Beyond the academic argument, whether the Fed cuts interest rates has a significant political bearing this year.
Voters are unhappy about higher prices, and they feel weighed down by high interest rates, too.
Interest rates may seem abstract, but they can have a real impact on how people view their financial situations.
But lowering interest rates should make people feel better about economic conditions and could give Democrats and Biden a boost.
He's well aware lower interest rates would boost the economy, lift people's moods, and, ultimately, help the party in charge.
Persons:
Jay Powell, — Donald Trump —, Powell, Joe Biden, Patrick McHenry, McHenry, Skanda Amarnath, it's, Larry Summers, Biden, Amarnath, — Trump, Hillary Clinton's, Richard Nixon, Ronald Reagan, Paul Volcker, Volcker, shied, Trump, Elizabeth Pancotti, Sarah Binder, Binder, what's, They've, Diane Swonk, Emily Stewart
Organizations:
Federal, Trump, Republican, Financial Services, Fed, Roosevelt Institute, George Washington University, Reserve, KPMG US, Business
Locations:
North Carolina, It's, America, Roosevelt