Trump and his allies are crying “election interference” over the Federal Reserve’s decision to slash interest rates
After months of complaining about the crippling burden of high interest rates and expensive borrowing, Republicans for some strange reason don’t seem too happy that the Federal Reserve has moved to do something about it.
On Wednesday, the Federal Reserve announced it is cutting interest rates by half a percentage point. It’s the first cut since 2020 and a long-awaited decrease to historically high interest rates.
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How are lower interest rates, which leads to more money in the system, which leads to more inflation, good for the working class?
Lower interest rates also affect personal loans. Lower rates makes a new car more affordable.