The US economy is at an "important turning point," the top economic advisor to President Joe Biden said Monday, calling for safeguards to be put in place to protect gains made in the labor market, ahead of a key Federal Reserve interest rate decision.
Her remarks come just two days before the Fed is expected to announce its first interest rate cut for more than four years, as inflation eases towards its long-run target of 2%, and the labor market continues to cool.
