ChainCatcher reports that Wylie Tollette, Chief Investment Officer of Franklin Templeton Investment Solutions, believes "if housing inflation persists, a 50 basis point rate cut could actually accelerate or amplify that situation." He expects the Fed to cut rates by 25 basis points next week, adding that the upcoming election could also complicate the prospect of a larger rate cut. Trump previously said that a rate cut would help Harris in her position as Vice President, "although they know they shouldn't do it."

Wylie Tollette said, "The Fed's path is that they want to do what's right for the economy, and I think they don't want to be seen as favoring the incumbent candidate through more aggressive rate cuts."