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The idea behind lower rates is to promote investment. But investment is being severely discouraged by the absolute dumpster fire of a political environment the country is in right now where nobody knows if a "good" investment will suddenly turn into a terrible investment at the whim of the irrational toddler in charge. As a result, lowering the interest rates would most probably do nothing more than promote inflation. Powell knows that and this is why he refuses to lower the rates.
The president throwing a tantrum and trying to pressure a position that can only properly do its job of regulating the economy if it is shielded against political influence will only push investors away even more.
Buckle up Americans, looks like a great depression is coming. And it was entirely manufactured by your president's incompetence.
So that's what all the MAGA idiots are going for
The greatest depression, some will say
Some people heard "The New Deal saved America from fascism" and thought "okay so this time we do the Depression but not the Deal"
Whole lot of so-called "leftists" have been saying and continue to say that Kamala/Biden would have been just as bad because something something argle bargle, "centrist" and "status quo".
I would say most of the stupidity is confined to the right and a whole lot of permission structure given to them by the "liberal media", AKA corporate media bothsiderists, but there is a small sliver of both-siderist idiots on the left, too.