A little bit of everything
President Donald Trump campaigned on a pledge to make consumer staples less expensive. But his decision to impose massive tariffs on America’s trading partners has the potential to increase inflation and ultimately lead to an economic slowdown, analysts said.
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The campaign of Vice President Kamala Harris stands to benefit from the Federal Reserve Board’s recent decision to slash it’s benchmark interest rate by half a percentage point, analysts said.
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The longer the debate the drags on the more perilous the situation becomes because even coming up against the precipice of the June deadline could have major economic consequences, just as it did in 2011 when lawmakers did not reach an agreement until the last minute.
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Presidents tend to get both the credit and the blame for a wide range of issues that are largely beyond their control such as the employment rate and wage and price variations. But what about Congress? Or what about that lesser known entity, the Federal Reserve?
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