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How Will Rate Cuts Affect the Election?

Sep 27, 2024

2 min

Jeff Haymond, Ph.D.

On September 18, the Federal Reserve established the first interest rate cut since the Covid pandemic in 2020. The Fed lowered the federal funds rate by half a percentage point – a much larger change than the typical quarter percentage point cut. 



Dr. Jeff Haymond, dean of the Robert W. Plaster School of Business at Cedarville University, shared insight about the motivations behind this rate cut in a recent interview. Here are some key points:


  • The United States' national debt has been described as a "ticking time bomb." What impact will this and future interest rate cuts have on the national debt?
  • In light of this recent move, current presidential candidate Donald Trump has articulated his economic plan to put a cap on credit card interest rates. Would this bring down the cost of living in the United States, or will it lead to less options for the consumer?
  • This slashing of the interest rate comes only a short time before the presidential election, with many claiming that this cut was, in fact, a political move. Will it affect the decisions of voters as the election draws near?


If you are covering the recent interest rate cut or potential for future cuts and need to know more, let us help with your questions and stories. 


Dr. Jeff Haymond is an expert on this subject and is available to speak to media regarding the action of the Federal Reserve and what this means for families in the United States – simply click on his icon or email mweinstein@cedarville.edu to arrange an interview.













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Jeff Haymond, Ph.D.

Jeff Haymond, Ph.D.

Dean, School of Business Administration/Associate Professor

Research interests include economics and religion, as well as monetary theory

Financial Markets (General)Federal Trade Reserve PolicyFree TradeMinimum Wage / UnemploymentGovernment Regulation
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