On Wednesday, Betsey Stevenson expressed her astonishment at Donald Trump’s running mate J.D. Vance and his supporters’ economic optimism despite the Federal Reserve’s recent rate cut.
What Happened: Stevenson, a former Obama administration economic advisor, shared her views on X, stating, “I have to admit that I am pleasantly surprised that J.D. Vance and his supporters thinks the economy is too strong for the rate cut.”
Stevenson shared a video featuring a Vance rally where he was asked a question on Federal Reserve’s move to slash interest rates by 50 basis points. The crowd booed when the question was asked.
Vance said, “My reaction is half a point is nothing compared to what American families have been dealing with for the last 3 years.” In response to the Vice Presidential candidate’s answer, the crowd cheered.
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Why It Matters: Stevenson’s post is particularly noteworthy given the ongoing debate around the implications of the rate cut. Republican presidential nominee Trump has expressed skepticism over the Federal Reserve’s decision, suggesting it could be indicative of a faltering U.S. economy or a politically motivated action.
Stevenson’s surprise at Vance’s optimism might stem from her previous criticism of the Republican vice presidential nominee. She had earlier rebuked Vance for spreading misinformation about the effects of tariffs on consumer prices.
This comment comes in the wake of the Federal Reserve’s unexpected decision to slash interest rates by 50 basis points, marking the first rate cut in over four years. This move surprised Wall Street analysts who had anticipated a more modest 25-basis-point cut.
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
