{"id":2342687,"date":"2024-09-18T07:54:01","date_gmt":"2024-09-18T11:54:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-interest-rate-cut-could-have-significant-2024-election-impact-washington-examiner\/"},"modified":"2024-09-18T07:56:22","modified_gmt":"2024-09-18T11:56:22","slug":"fed-interest-rate-cut-could-have-significant-2024-election-impact-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-interest-rate-cut-could-have-significant-2024-election-impact-washington-examiner\/","title":{"rendered":"Fed interest rate cut could have &#8216;significant&#8217; 2024 election impact &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffed-interest-rate-cut-could-have-significant-2024-election-impact-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2342687&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The \u2064article discusses\u200d the anticipated impact of the Federal Reserve&#8217;s expected interest rate \u200ccuts on Vice President\u200b Kamala Harris&#8217;s political standing as the general election approaches. Scheduled for announcement on Wednesday, \u2063these rate cuts, the\u200d first\u200d since a series of hikes aimed at controlling inflation, could <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cia-sends-message-to-take-havana-syndrome-seriously\/\" title=\"CIA sends message to take \u2018Havana syndrome\u2019 seriously\">provide financial relief<\/a> for consumers\u200d and\u200c alleviate concerns about the economy, a leading issue for voters. Economists predict \u200ca reduction of 25 to 50 \u2062basis\u200c points, potentially leading to further\u200b cuts in the future.<\/p>\n<p>While some experts suggest that one\u200d rate cut alone won\u2019t\u200d significantly shift voter perceptions of Harris&#8217;s\u200d economic stewardship, \u200bthere \u200dis hope that any decrease in prices could enhance her political image. Polls indicate that she \u200chas\u2063 recently improved her standing \u200dagainst\u2063 former President Donald Trump, \u2063especially after a \u2063debate where her economic proposals were favorably \u2064noted.<\/p>\n<p>However, opinions vary; some \u200dstrategists believe the economic agenda Harris promotes \u200dis already paving the way for support,\u2062 while others caution that if the rate cuts disappoint expectations, it could negatively impact her. Ultimately, any \u200bimprovements in how Harris&#8217;s economic policies \u200care \u200dviewed could\u2062 bolster \u2064her \u2064campaign as voters assess the effectiveness\u2062 of\u2064 her leadership in contrast to her opponents.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">How the Fed interest rate decision could have &lsquo;significant&rsquo; impact on Harris<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1762933\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>The Federal Reserve&rsquo;s widely anticipated rate cuts on Wednesday could be a well-timed political boost for Vice President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/kamala-harris\/\" target=\"_blank\" rel=\"noopener\" title>Kamala Harris<\/a> if voters sour about the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/economy\/\" target=\"_blank\" rel=\"noopener\" title=\"economy\">economy<\/a> under the Biden administration see relief.<\/p>\n<div class=\"article-paywall\">\n<p>The Fed is expected to lower its benchmark rate, which sits at a 23-year high, on Wednesday in the 2 p.m. hour. The reduction will mark the Fed&rsquo;s first since unleashing a flurry of rate hikes to address coronavirus-linked&nbsp;inflation, and experts predict a rate cut of 25 to 50 basis points.<\/p>\n<p>The move will not only provide some relief for consumers saddled with credit card debt and new home or auto buyers but will likely trigger a series of rate reductions through the end of the year and beyond.<\/p>\n<p>The economy remains the top issue for voters heading into the general election in November, and economists and veteran Democratic strategists agree that Harris stands to benefit from Wednesday&rsquo;s cuts, though they disagree on the breadth of the political impact.<\/p>\n<p>Mark Hamrick, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jobless-claims-rise-to-6-month-high-job-cuts-jump-57-percent\/\" title=\"Jobless Claims Rise to 6-Month High, Job Cuts Jump 57 Percent\">senior economic analyst<\/a> at Bankrate, told the <em>Washington Examiner<\/em>&nbsp;that perceptions of Harris&rsquo;s economic stewardship won&rsquo;t &ldquo;change overnight with one rate cut&rdquo; but that she should see some bounce if prices decrease.<\/p>\n<p>&ldquo;The reality is that the number of people who are undecided in this race is not huge, but when you&rsquo;re talking about slim margins, that percentage is significant,&rdquo; he said in an interview. &ldquo;The question is, &lsquo;Is the level of interest rates essentially a trigger for perception about the quality of the economy?&#8217;&rdquo;<\/p>\n<p>&ldquo;It&rsquo;s no secret that it&rsquo;s a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americans-who-have-worse-finances-since-biden-was-elected-overwhelmingly-blame-democrats\/\" title=\"Americans Who Have Worse Finances Since Biden Was Elected Overwhelmingly Blame Democrats\">highly polarized political environment<\/a>, so anything that lends some possibility of a positive input on the way that not only things are perceived but the way they actually are is helpful for an incumbent to the degree that she&rsquo;s viewed as an incumbent,&rdquo; Hamrick continued. &ldquo;The high level of awareness about who she is gets an assist from things that change because, until a couple of months ago, no one understood that she was a candidate for president.&rdquo;<\/p>\n<p>Skanda Amarnath, the executive director of Employ America, argued that forecasts have <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/brazil-central-bank-holds-interest-rates-after-12-straight-increases\/\" title=\"Brazil central bank holds interest rates after 12 straight increases\">predicted rate cuts<\/a> for months, and those &ldquo;assumptions&rdquo; are already &ldquo;baked in&rdquo; to voters&rsquo; perception of the economy.<\/p>\n<p>He told the&nbsp;<em>Washington Examiner<\/em>&nbsp;that Wednesday&rsquo;s announcement &ldquo;shouldn&rsquo;t&nbsp;have a huge impact&rdquo; politically but conceded that &ldquo;disappointment&rdquo; from an underwhelming announcement and future forecast could be bad news for the vice president.<\/p>\n<p>&ldquo;All economists and all financial market strategists can tell you the story of how that disappointment causes stocks to fall, the Fed has to come clean up. There&rsquo;s extra volatility in the market,&rdquo; he explained. &ldquo;That leads to more reporting and stories about recession risk or economic uncertainty, that would probably be a little bit less favorable for the incumbent.&rdquo;<\/p>\n<p>Democratic strategists with close ties to Harris&rsquo;s campaign gave blunter, more political answers to how a rate cut would affect the election.<\/p>\n<p>&ldquo;I&rsquo;ve been saying this for years. The Biden-Harris economic agenda is working, but it takes time to feel the effects,&rdquo; one strategist explained.&nbsp;<\/p>\n<p>&ldquo;It just makes it that much easier to pitch the vice president&rsquo;s&nbsp;economic agenda to voters,&rdquo; a second strategist added. &ldquo;Especially when the other side is focusing on cutting taxes for the superrich and raising costs even more for everyday American households.&rdquo;<\/p>\n<p>Any boost in public perception of Harris&rsquo;s economic policies would be welcome news for her campaign.<\/p>\n<p>Though the vice president has steadily opened up a lead over former President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/donald-trump\/\" target=\"_blank\" rel=\"noopener\" title>Donald Trump<\/a> in national, battleground, and <a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/presidential\/3156886\/harris-positive-favorability-ratings\/\" target=\"_blank\" rel=\"noopener\" title>general temperament&nbsp;polling<\/a>, she lagged significantly behind the former president among voters when it came to economic stewardship.<\/p>\n<p>Harris&rsquo;s economic platform, the broad strokes of which she debuted last month, has <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-kamala-harris-bought-375-pot-on-paris-trip\/\" title=\"EXCLUSIVE: Kamala Harris Bought 5 Pot on Paris Trip\">received mixed reviews<\/a>.<\/p>\n<p>Proposals to cap rent and provide first-time homebuyers with $25,000 in federal assistance were generally panned by experts, but her proposed tax deduction for the construction of 3,000,000 new starter homes has been received favorably.<\/p>\n<p>Harris was further saddled with trying to both take credit for and distance herself from President Joe Biden&rsquo;s own unpopular economic stewardship<\/p>\n<p>However, her economic polling started to turn in the immediate aftermath of her September debate with Trump.&nbsp;<\/p>\n<p>A <em>Financial Times<\/em>-Michigan Ross poll published Sunday found Harris outperforming her rival by 2 points when it comes to economic stewardship. That lead expanded to 6 points among survey participants who say they watched all or parts of the Trump debate.&nbsp;<\/p>\n<p>A <em>Forbes<\/em>-HarrisX poll taken in the two days after the debate and published Tuesday showed survey participants being split evenly on who &ldquo;demonstrated a better grasp&rdquo; on economic policy during the debate, but gave Harris the edge when it came to detailing specifics of economic proposals.<\/p>\n<p>Just 60% of respondents said that Trump gave &ldquo;no information or very little&rdquo; about how he will tackle inflation, with 65% saying the same about his general economic plan. For comparison, 58% and 69% wanted to hear more from Harris on inflation and the economy, respectively.&nbsp;<\/p>\n<p>The Harris campaign did not comment for this story.<\/p>\n<p>The Trump campaign and its allies, meanwhile, maintain that the Biden-Harris agenda is responsible for the current inflation and interest rates.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noopener\" title><strong><\/strong><\/a><\/p>\n<p>&ldquo;Kamalanomics&nbsp;has led to the fastest increase&nbsp;in mortgage&nbsp;rates since 1981, and only President Trump can restore economic growth after four years of failure,&rdquo; Republican National Committee spokeswoman Anna Kelly told the <em>Washington Examiner.<\/em>&nbsp;<\/p>\n<p>&ldquo;Kamala Harris wants more of the same &lsquo;high cost of energy&rsquo; policies that led to a housing affordability crisis and crippling inflation for families across the country, but President Trump will cut energy prices in half in 12 months and declare a national energy emergency to quickly bring down mortgage and&nbsp;interest&nbsp;rates,&rdquo; she said.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1762933\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1762933\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Federal Reserve&#8217;s expected interest rate cuts on Wednesday could provide a timely political advantage for Vice President Kamala Harris, especially if voters dissatisfied with the Biden administration&#8217;s economic performance experience some relief. The Fed is anticipated to reduce its benchmark rate, currently at a 23-year high, during the 2 p.m. hour. This will be the first cut following a series of increases aimed at combating inflation linked to the pandemic, with experts predicting a decrease of 25 to 50 basis points. This reduction is likely to ease financial burdens for consumers dealing with credit card debt and those purchasing homes or cars, and it may initiate further rate cuts through the end of this year and into next.<\/p>\n<p>As economic issues remain paramount for voters ahead of the November general election, both economists and seasoned Democratic strategists believe that Harris could gain from these cuts; however, opinions vary on how significant that impact might be. Mark Hamrick from Bankrate noted that while perceptions of Harris\u2019s handling of economic matters won\u2019t change dramatically overnight due to one rate cut, she could see an improvement if prices drop. He emphasized that even small shifts in undecided voter percentages can be crucial in tight races.<\/p>\n<p>Skanda Amarnath from Employ America argued that expectations for these rate cuts have been established for months and are already reflected in voters&#8217; views on the economy. He suggested that Wednesday\u2019s announcement might not have substantial political ramifications but acknowledged potential negative consequences if it fails to meet expectations.<\/p>\n<p>Democratic strategists closely aligned with Harris&#8217;s campaign offered more straightforward assessments regarding how a rate cut might influence her electoral prospects. One strategist remarked that while it takes time for Biden-Harris policies to show results, such developments would facilitate promoting Harris\u2019s economic agenda\u2014especially against opponents focused on tax breaks for wealthy individuals.<\/p>\n<p>A positive shift in public perception regarding Harris&#8217;s economic policies would greatly benefit her campaign as she has consistently led former President Donald Trump in various polls but has struggled with voter confidence concerning her economic management skills. Although her recent proposals received mixed reviews\u2014some criticized while others were well-received\u2014her polling numbers improved after her debate performance against Trump last month.<\/p>\n<p>In contrast, Trump&#8217;s campaign continues to blame current inflation rates on Biden-Harris policies while promising significant changes should he return to office<\/p>\n","protected":false},"author":2645,"featured_media":2342688,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/09\/Kamala-Harris-economy.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[32431,35077,32663,33477],"class_list":["post-2342687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-2024-election","tag-economic-impact","tag-federal-reserve","tag-interest-rates"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/09\/Kamala-Harris-economy.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2342687","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2645"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2342687"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2342687\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2342688"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2342687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2342687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2342687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}