Tom BurtonCo-Founder, COO and CTO of LeadSmart Technologies

Will there be political pressure to reduce interest rates in September? #interestrates

Name: Will there be political pressure to reduce interest rates in September? #interestrates
Uploaded: 2024-08-08T14:27:19+00:00
Duration: 47 s
Channel: Tom Burton
Description: Short transcript excerpt from a YouTube video discussing market expectations for an interest-rate cut in September and political incentives affecting the…

8 Aug 2024 · 1 min

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0:47

Short transcript excerpt from a YouTube video discussing market expectations for an interest-rate cut in September and political incentives affecting the Federal Reserve’s decisions. The speaker notes Wall Street consensus (~87%) expected a September cut (possibly 0.5 percentage points) and argues political pressure exists to avoid a recession ahead of the election, which would harm the Democratic Party and the sitting president.

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Consensus on Wall street was 87% of the survey was definitely a cut in September, maybe as much as a half a point. I think there's Powell can say all day long, you know, that they're not impacted by, you know, the elections or whatever it is. You got to know that there's one one side of the aisle right now is pressing for, you know, there's nothing worse that could happen to the the sitting president right now and the Democratic Party than for us to dip into a recessionary stand, you know, state in, in September, October. I mean, nothing worse could happen to that. So I think there is quite a bit of pressure. So let's see what let's see what late September holds, I guess.