Fed Cuts Interest Rates Donald Trump Hates News Kamala Harris Cheers For Middle Class

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Fed Cuts Interest Rates Donald Trump Hates News Kamala Harris Cheers For Middle Class

The Rundown

For the first time in four years, the Federal Reserve lowered interest rates with a record cut, to a range of 4.75% to 5%. Falling interest rates are a key indicator of declining inflation and lower prices for everyday Americans.

This election will be a choice between two very different economic visions: one that builds up the middle class, versus one that helps billionaires and big corporations at working families’ expense. Kamala Harris is fighting for an opportunity economy. Trump’s agenda would lead to a recession.

Statement from Vice President Kamala Harris

“While this announcement is welcome news for Americans who have borne the brunt of high prices, my focus is on the work ahead to keep bringing prices down,” Harris said. “I know prices are still too high for many middle-class and working families, and my top priority as President will be to lower the costs of everyday needs like health care, housing, and groceries.”

Additional Background

The cut follows the unveiling of Vice President Harris’ vision to build an opportunity economy and lower costs for families, an economy where everyone has a chance to compete and a chance to succeed — whether they live in a rural area, small town, or big city.

Kamala Harris’ Opportunity Economy Will:

Cut Taxes for Middle Class Families

Make Rent More Affordable and Home Ownership More Attainable

Grow Small Businesses and Invest in Entrepreneurs

Take on Bad Actors and Bring Down Costs

Strengthen and Bring Down the Cost of Health Care

And More: https://ift.tt/Cs8zTWG

Vice President Harris grew up in a middle-class home as the daughter of a working mom. She believes that when the middle class is strong, America is strong, and building up the middle class will be a defining goal of her presidency.

She knows that prices are still too high for many middle- and working-class families, which is why her top economic priority will be lowering the costs of everyday needs like health care, housing, and groceries and cutting taxes for more than 100 million Americans.

Vice President Harris’ vision stands in stark contrast with Donald Trump’s Project 2025 agenda, which would jack up prices, weaken the middle class, cut Social Security and Medicare, and eliminate the Affordable Care Act while giving another handout to his billionaire friends and giant corporations.

Trump’s agenda would lead to a recession.

USA Today: “According to a Moody’s study, Trump’s plan would trigger a recession by mid-2025 and an economy that grows an average 1.3% annually during his four-year term vs. 2.1% … The U.S. would have 3.2 million fewer jobs and a 4.5% unemployment rate, a half percentage point higher, at the end of a Trump tenure.”

Economist at the conservative-leaning Tax Foundation: “When you’re talking about tariffs this high, that will almost certainly increase the risk of a recession.”

Chief global strategist at JPMorgan Asset Management: “[Trump’s tariff plan is] one of those magical economic proposals that can actually cause inflation and put you into a recession – at the same time”

Fortune: “Goldman Sachs Group Inc. economists gamed out the potential economic implications of a Republican or Democratic victory in the November elections, cautioning that US GDP faces a hit in the case of a win for Donald Trump.”

The conservative-leaning Tax Foundation: “We estimate the proposed tariffs would reduce long-run GDP by 0.8 percent, the capital stock by 0.6 percent, and hours worked by 685,000 full-time equivalent jobs.”

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