Federal Reserve expected to cut rates, potentially boosting President Biden's prospects in the upcoming election
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The U.S. Federal Reserve is expected to cut interest rates as the presidential campaign season heats up, potentially giving President Joe Biden a boost. Rate cuts could shape attitudes about high inflation and housing costs, which have been a drag on Biden's reelection efforts. The Fed's projections suggest a growing economy, low unemployment, moderating inflation, and cheaper credit leading up to Election Day. Investors anticipate rate cuts at two of the four Fed meetings before the election. However, some experts are skeptical that the rate cuts will have a significant political impact. Americans rank the economy as a top election-year issue, and Biden has received poor ratings for his handling of the economy. The Fed's rate hikes have been used by Republicans to criticize Biden's manage...
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