See Local News
Get Balanced News From Your U.S. State.
See Local News
See all locals

Powell Navigates ‘Toxic’ Politics of Rate Cuts as Election Nears

Posted on AllSides February 1st, 2024
From The Center
Banking and Finance, Jerome Powell, Interest Rates, 2024 Presidential Election, Federal Reserve
CHIP SOMODEVILLA/GETTY IMAGES

For Federal Reserve Chair Jerome Powell, deciding when to cut interest rates is hard enough: Too soon, and inflation could rise again. Too late, and unemployment might shoot higher.

The challenge is doubly difficult this year because he is doing it in the glare of election-year politics.

Allies of former President Donald Trump, the Republican front-runner, have already argued that the central bank is seeking to help President Biden by signaling that cuts are coming.

Meanwhile, some Democrats inside and outside the West Wing are nervous that the current president’s re-election prospects will be jeopardized by a central bank...

Read full story
Some content from this outlet may be limited or behind a paywall.

AllSides Picks

https://www.wsj.com/economy/central-banking/fed-interest-rate-cuts-election-2024-843cc25a

More News about Banking and Finance from the Left, Center and Right

From the Left

From the Center

From the Right