the us economy is in a “solid” recovery top white house economist lael brainard said wednesday hours after new data showed inflation continuing to cool speaking at an economic club of new york event national economic council director brainard said there’s “encouraging evidence that the economy is on the path to moderate inflation accompanied by resilient jobs market” brainard spoke after the release of data showing inflation easing in june which president joe biden also touted in a statement as marketwatch reported us consumer prices rose a modest 02 in june and the rate of inflation slowed to the lowest level since 2021 recent progress however may not be enough to stop the federal reserve from raising interest rates again soon read us inflation slows again cpi shows as fed weighs another rate hike biden in his statement credited some of his own policies and said “i will continue to fight for lower costs for families every day “i ran for office to grow the economy from the middle out and bottom up not the top down that’s exactly what we’re doing” he said invoking the “bidenomics” label used by the white house for his economicpolicy program now see in ‘bidenomics’ address president touts economic record ahead of 2024 election brainard said that in the near future the administration plans to continue to work on policies that “support growth that benefits the middle class through smart public investments educating and empowering workers and lowering the cost of living” to be sure as marketwatch’s jeffry bartash writes inflation isn’t slowing quickly enough to dissuade the fed from raising interest rates one or two more times this year the central bank is ready to raise a key shortterm rate later this month after pausing in june us stocks djia rallied on wednesday while bond yields tmubmusd10y fell after the tame inflation reading