The US isn't out of the words with inflation, and one fixed-income strategist thinks the Fed's jumbo rate cut will make matters worse.

President Biden said on Thursday that the Federal Reserve's interest rate cut signals the nation had entered a "new phase" during a speech that touted his economic record. Why it matters: Biden, who rarely speaks publicly about Fed policy decisions,

Here’s how inflation and the cost of borrowing have changed since the Fed started raising interest rates in March 2022. After peaking at 9.1% in June 2022, inflation has eased, falling to a three-year low of 2.5% in August, just above the Fed’s 2% target rate.