Tuesday, October 22, 2024
10/22/2024

Little space for Harris to flip script on economy despite talk of Fed rate cuts, experts say

Though the Harris campaign is likely to seize on selected topline economic data to claim that the economy is on a path to recovery, economists and pollsters see little chance for her to reverse the public's sentiment on the issue in time for the general election.

With inflation down from its peak and the unemployment rate holding relatively steady, the Federal Reserve is expected to announce a cut in interest rates at its next meeting Sept. 17-18.

Such a development would likely trigger a positive reaction from the stork market and give Vice President Kamala Harris some positive talking points to sway voters whose decision may be motivated primarily by the economy. Former President Donald Trump currently holds greater sway with that demographic. Prior to the debate, Newsweek reported that "among U.S. adults who said jobs and the economy were 'very important' issues, 86 percent said they planned to vote for Trump, compared to 64 percent who said they intend to vote for Harris," citing an Economist/YouGov poll.

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