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President Joe Biden is speaking at the Economic Club of Washington, D.C., on Thursday, where he is expected to celebrate falling inflation and interest rates.

The president's remarks come the day after the Federal Reserve announced its decision to cut interest rates by a surprisingly aggressive 50 basis points.

"The declines in inflation and interest rates are welcome, but no one's declaring victory," National Economic Council Director Lael Brainard told reporters ahead of Biden's remarks.

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