Top White House economic adviser Lael Brainard declared that the U.S. economy had turned the corner in bringing down inflation and it was now time to focus on safeguarding jobs and growth.

Lael Brainard, the former vice-chair of the Federal Reserve who now leads President Joe Biden’s National Economic Council, said Monday that the U.S. economy has reached a critical point in the battle against inflation.

Lael Brainard, the director of the White House's National Economic Council, is expected to announce on Monday that the U.S. economy has reached a pivotal moment, marking what appears to be the end of the significant inflation surge of 2021-2023,

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.