16 years ago, the Fed had to repeatedly cut interest rates to avoid an economic depression after the “too big to fail” banks and investment firms had to be bailed out by GWB - the president who said he proudly said, “I’ve abandoned free-market principles to save the free-market system,” Bush told CNN television, saying he had made the decision “to make sure the economy doesn’t collapse.”
The Fed raised interest rates 11 times in ‘22 and ‘23 to prevent the inflation everyone worried about after C0vid-19 hit our economy.
It’s long past time for a cut.
Inflation is still around. So the answer is no. The government wants to cut the interest rates so we can pay the debt. And Harris can win in November.