The Federal Reserve’s widely anticipated rate cuts on Wednesday could be a well-timed political boost for Vice President Kamala Harris if voters sour about the economy under the Biden administration see relief.

The Fed is expected to lower its benchmark rate, which sits at a 23-year high, on Wednesday at about 2 p.m. The reduction will mark the Fed’s first since unleashing a flurry of rate hikes to address coronavirus-linked inflation, and experts predict a rate cut of 25 to 50 basis points.

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