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American2Day

News and opinion for Michigan, Eaton County, and the Mulliken area

American2Day

News and opinion for Michigan, Eaton County, and the Mulliken area

Money

Vance urges Fed to cut rates as officials debate inflation risks

A2D News Desk

Vice President JD Vance said Thursday that the Federal Reserve should lower interest rates to make homes more affordable, adding to pressure from President Donald Trump for reduced borrowing costs.

Vance cited recent inflation data and said higher rates increase borrowing costs. His comments came after Fed Chair Kevin Warsh said short-term rates remain the main tool for bringing inflation back to the central bank’s 2% target.

Traders are nearly evenly split over the possibility of a rate hike at the Federal Open Market Committee’s Sept. 15-16 meeting. Fed officials have offered differing views, with Michael Barr open to an increase if inflation remains elevated and Christopher Waller leaning toward holding rates steady.

Read the full story at CNBC.

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