President Joe Biden delivers remarks at the Economic Club of Washington, Wednesday, Sept. 18, 2024, in Washington. (AP Photo/Rod Lamkey, Jr.)

WASHINGTON, DC - SEPTEMBER 19: U.S. President Joe Biden departs after speaking at the Economic Club of Washington, DC September 19, 2024 in Washington, DC. Biden spoke on the current state of the U.S. economy following an interest rate reduction announced by the Federal Reserve yesterday. (Photo by Win McNamee/Getty Images)

WASHINGTON, DC - SEPTEMBER 19: U.S. President Joe Biden speaks at the Economic Club of Washington, DC September 19, 2024 in Washington, DC. Biden spoke on the current state of the U.S. economy following an interest rate reduction announced by the Federal Reserve yesterday. (Photo by Win McNamee/Getty Images)

WASHINGTON, DC - SEPTEMBER 19: U.S. President Joe Biden speaks at the Economic Club of Washington, DC September 19, 2024 in Washington, DC. Biden spoke on the current state of the U.S. economy following an interest rate reduction announced by the Federal Reserve yesterday. (Photo by Win McNamee/Getty Images)

WASHINGTON, DC - SEPTEMBER 19: U.S. President Joe Biden speaks at the Economic Club of Washington, DC September 19, 2024 in Washington, DC. Biden spoke on the current state of the U.S. economy following an interest rate reduction announced by the Federal Reserve yesterday. (Photo by Win McNamee/Getty Images)

WASHINGTON, DC - SEPTEMBER 19: U.S. President Joe Biden speaks at the Economic Club of Washington, DC September 19, 2024 in Washington, DC. Biden spoke on the current state of the U.S. economy following an interest rate reduction announced by the Federal Reserve yesterday. (Photo by Win McNamee/Getty Images)

WASHINGTON, DC - SEPTEMBER 19: U.S. President Joe Biden speaks at the Economic Club of Washington, DC September 19, 2024 in Washington, DC. Biden spoke on the current state of the U.S. economy following an interest rate reduction announced by the Federal Reserve yesterday. (Photo by Win McNamee/Getty Images)

WASHINGTON, DC - SEPTEMBER 19: U.S. President Joe Biden speaks at the Economic Club of Washington, DC September 19, 2024 in Washington, DC. Biden spoke on the current state of the U.S. economy following an interest rate reduction announced by the Federal Reserve yesterday. (Photo by Win McNamee/Getty Images)