The Fed's rate cut
has reverberated in the 2024 presidential campaign.
Harris, a Democrat, praised it,
Trump, a Republican, hinted at political motives.
With just seven weeks until Election Day, the economy and interest rates are the focus of the campaign.
Trump said the rate cut indicated a bad economy or that the Fed was playing politics, and Harris saw it as good news.
Biden also praised it. Trump has repeatedly criticized the Fed, and his supporters have also criticized it, causing concerns.
Powell promised not to be influenced by politics and will serve until 2026.
Trump has accused the Fed of opposing him and suggested that the president should have more say in the Fed's decisions.
Some Democratic senators have called for rate cuts, and polls show voters are concerned about inflation.
