The Fed’s long-awaited rate cut is colliding with presidential politics ...Middle East

By Kayla Tausche, CNN (CNN) — The Federal Reserve is preparing to cut interest rates for the first time in the Biden era after the White House spent the last three years grappling with Americans’ dissatisfaction with the cost of living, raising new questions about the health of the economy and the impact on voters at the ballot box. The move is fresh vindication for President Joe Biden, whose pandemic-era agenda ushered in trillions of dollars in government spending — which, when coupled with strong demand for goods, supply chain snarls and Russia’s war with Ukraine — drove inflation to a four-decade high. The cut, which will probably be a quarter-point or a half-point of a percent, c

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Last updated : 18 September 2024 clock 08:45 PM

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The Fed’s long-awaited rate cut is colliding with presidential politics ...Middle East

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