Fed's Looming Rate Cut Could Bolster Biden's Reelection Bid

The Federal Reserve is anticipated to lower interest rates, which may positively impact President Joe Biden’s reelection campaign by potentially easing public concerns over high inflation and increasing housing costs. This move, however, is expected to attract criticism, especially from Republican circles, including Donald Trump, who argue that the Fed’s actions could unfairly influence the election outcome. Trump has preemptively suggested that Fed Chair Jerome Powell, appointed by him in 2018, might lower rates to benefit the Democrats.