Source: Politico
“Donald Trump is on a collision course with his fellow Republicans on Capitol Hill over Federal Reserve policy, with a clash looming next week when the central bank cuts interest rates. The former president has warned that rate cuts are ‘something that they know they shouldn’t be doing’ before the November elections. The Fed move, its first reduction in borrowing costs in four years, will begin to provide relief to a job market that’s showing signs of weakening. With economic fears rising, some of Trump’s allies on Capitol Hill aren’t echoing his warning to the Fed about election interference and instead say it’s the right call to lower rates. Many GOP lawmakers said in interviews this week that the Fed should act because of worrying indicators that the economy could be slowing down. … Trump has a long history of accusing the Fed of conspiring against him.” (09/11/24)
https://www.politico.com/news/2024/09/11/republicans-defy-trump-fed-rate-cut-00178758