"The Fed is more worried about the labor market and less concerned about inflation at this point," a Glenmede analyst said.

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,

The Fed's decision to lower interest rates by a half-point comes in response to labor-market weakness. But the aggressive cut risks igniting inflation, a Richard Bernstein analyst said. One professor said that the Fed's cut has set a new expectation for ...