The US Federal Reserve has cut interest rates for the first time in more than four years – a significant political boost for the Harris campaign.

Rates have gone down by 0.5% to about 4.8%, a far bigger rate than economists had predicted.

Policymakers expect the rate to fall another 0.5% this year and go down to around 3% by the end of 2026.

US Correspondent Richard Arnold told Mike Hosking that Donald Trump is complaining about the impact it will have for Harris’ campaign, calling the move by the Federal Reserve “sheer politics”.

LISTEN ABOVE

The US Federal Reserve has cut interest rates for the first time in more than four years – a significant political boost for the Harris campaign. 
Rates have gone down by 0.5% to about 4.8%, a far bigger rate than economists had predicted. 
Policymakers expect the rate to fall another 0.5% this year and go down to around 3% by the end of 2026. 
US Correspondent Richard Arnold told Mike Hosking that Donald Trump is complaining about the impact it will have for Harris’ campaign, calling the move by the Federal Reserve “sheer politics”. 
LISTEN ABOVE

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

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Richard Arnold: US Correspondent on the cuts by the Federal Reserve and their impact on presidential campaigning

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/dad0575c-8e1e-4b89-8046-b1f00173bef6/transcript