Odaily Planet Daily News: The Federal Reserve decided to cut interest rates by 50 basis points this week, marking the start of an easing cycle by the central bank at the cusp of the closest US presidential election in nearly half a century. Since 1972, the Federal Reserve has changed interest rates in all but two presidential election years, and the Fed's actions are basically divided into two types: raising and lowering interest rates. The Fed's policy rate rose in five election years and fell in six election years. In most cases, these changes were part of a cycle that began a year or more before the election year. In four of the five election years when interest rates rose, the incumbent president or the party that controlled the White House won re-election. At the same time, in five of the six election years when interest rates fell, the incumbent president or challenger to the ruling party won five times. (Jin Shi)