Joe Biden on Thursday delivered remarks at the Economic Club of Washington DC. He took a victory lap and claimed the economy is roaring again after the Federal Reserve lowered interest rates.
Federal Reserve Chairman Jerome Powell this week slashed interest rates by a whopping 50 basis points – this is the biggest rate cut since 2008.
Of course, the Fed’s goal is to boost Kamala Harris with such an aggressive rate cut shortly before the election.
Former Trump economic advisor Steve Moore said the 50 basis point rate cut is election interference.
Moore: I was in favor of a quarter percentage point reduction in interest rates.. But to do this 50 basis point reduction… I think this looks like political interference pic.twitter.com/pIOoF1sP6E
— Acyn (@Acyn) September 19, 2024
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