Morning Jolt: How Fed Chair Jerome Powell Is Likely to Give Kamala Harris a Boost

TODAY'S JOLT IS SPONSORED BY

WITH JIM GERAGHTY

August 19 2024

How Fed Chair Jerome Powell Is Likely to Give Kamala Harris a Boost

On the menu today: While the Democrats gather in Chicago, the mood of Americans heading into the November elections is likely to be shaped in part by the interest-rate decisions of the Federal Reserve, and its chair, Jerome Powell, is expected to share his outlook in a speech in Jackson Hole on Friday. Everyone expects the Fed to cut interest rates starting in September, which should goose the U.S. economy when Kamala Harris needs it most — although there are some surprising data indicating most Americans give her a pass for the Biden administration's economic policies. Meanwhile, Donald Trump continues his message that "we are a failed nation," which he calls a "beautiful phrase," and Joe Biden and Harris are on opposite sides of the question of whether inflation has been defeated.

A Little Help from the Fed

This week, Americans will turn their eyes to the Democratic National Convention in Chicago, which John Fund calls "The city that people leave ...

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