Investors now peg greater than even odds that there won't be a single interest rate cut until after the election, complicating things for President Biden.
in 2024, with most expecting that the first cut would have happened in March.
Inflation, as gauged by the consumer price index, has wobbled between 3% and 3.7% since June 2023 but has not once fallen into the 2%-3% range.Republicans will undoubtedly use the higher interest rates to attack Biden and Democrats and blame them for the situation. Republicans have argued that the reason inflation got so hot is too much federal spending resulting in more dollars chasing the same number of goods and services and causing price hikes.
Interest rate cuts would be seen as a positive for Biden because they would typically help the stock market and general economic investment and bring down rates on other consumer finance instruments, such as car loans and mortgages.
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