Fri, August 2, 2024 | 12:12PM ET

VP Choice This Weekend, Fed Puts Cut on Table

Name: FS Insight
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All signs point to Vice President Harris announcing her running mate this weekend. The top candidates have cancelled their weekend plans and are reportedly having final “interviews” with the Vice President. The selection of a running mate is generally viewed as the first Presidential decision a candidate for the Oval Office makes.

The first rule for picking a Vice President is to do no harm. Some of the comments by former President Trump’s running mate, Senator J.D. Vance, have put that rule in focus. The Trump campaign has had to do some damage control over comments the Vice-Presidential candidate has made about women without children. This should serve as a good reminder to Harris and her team to scrutinize past statements of their VP nominee.

Fed

The Federal Open Markets Committee (FOMC) met this past week, and while the central bank kept interest rates steady, they sent a clear message that a rate cut is likely at their September meeting. While the official statement opened the door, at his press conference the Chair was very dovish in his comments and said point-blank that a cut in September “was on the table.” The next meeting is on September 17/18 after no meeting in August (when most of DC takes off for a summer break).

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