Federal Reserve officials do not set interest rates with presidential elections in mind. In fact, the central bank is independent of the White House and, as the Fed chair, Jerome H. Powell, has said repeatedly, the institution takes that independence seriously.
Interest rate cuts could also help to improve housing affordability, an issue for young voters that has bedeviled the president. Falling interest rates could drive down mortgage rates.
#federal-reserve #interest-rates #elections #president-biden #housing-affordability #mortgage-rates #recession
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