The Fed says its long-awaited rate cut is apolitical, even close to the presidential election
by Casey Quinlan, West Virginia Watch (September 23, 2024) The Federal Reserve’s first key interest rate cut in four years coincides with another major four-year event: the homestretch of the presidential election. Fed Chair Jerome Powell downplayed the central bank’s role in the race between Vice President Kamala Harris and former President Donald Trump on Wednesday, in announcing the half-percentage point cut in its benchmark rate. But that didn’t stop the candidates’ campaigns from weighing in, and it could prove a key factor for voters. “This is my fourth presidential election at the Fed, and it’s always the same. We’re…