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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When half a percent is SLASHING!!!
They usually only move the rate a quarter percent at a time, so technically this is a big drop
They had a number of 0.5% or greater increases in 2022, two drops going into the pandemic, etc.
That is quite a bit.