Bullet points of WATCH LIVE: Biden speaks at Economic Club in Washington, D.C. as jobless benefits applications drop

Bullet points of WATCH LIVE: Biden speaks at Economic Club in Washington, D.C. as jobless benefits applications drop
- Jobless claims fell to 219,000, the lowest level in four months
- The Federal Reserve cut its benchmark interest rate by a half of a percentage point
- The Fed's goal is to achieve a 'soft landing', curbing inflation without causing a recession
- Inflation has retreated steadily, approaching the Fed's 2 percent target