Washington | The US Federal Reserve’s move to slash interest rates reverberated across the presidential race as Democrat Kamala Harris hailed the move as a boon for middle-class families while Republican Donald Trump suggested the cut may have been politically motivated.
The heated rhetoric over the Fed’s decision on Wednesday (Thursday AEST) to lower its benchmark interest rate by a half a percentage point highlighted how the central bank – an independent institution whose chairman, Jerome Powell, has pledged not to allow political pressures to influence decision-making – could be swaying the momentum of the presidential race with just seven weeks until election day.
