Opinions expressed by Entrepreneur contributors are their own.
As the 2024 election grows closer, many voters are wondering how different outcomes will affect them financially. A big question is how the outcome of the presidential election could affect interest rates.
In July, the Federal Reserve chose to keep the federal funds rate steady at 5.25% to 5.50% after increasing it 11 times between March 2022 and July 2023. When the federal funds rate is high, this increases the cost of borrowing for businesses and consumers.
The sitting president doesn’t have a direct impact on interest rates, but they can indirectly influence them with their actions and policies. Let’s look at
→ Continue reading at Entrepreneur