Vice President Kamala Harris' campaign slammed President Donald Trump's criticism of the Federal Reserve's first interest rate cut in four years, focusing on economic issues ahead of the November presidential election. Trump, after the Fed lowered rates by 50 basis points on Sept. 19, called it a “political act” and said a 25 basis point cut was more appropriate. He has previously suggested that the independent central bank should be somewhat controlled by the executive branch. A campaign memo showed that Brian Nelson, Harris' senior policy advisor, called Trump's response “reckless.” Trump, without evidence, alleged that the Fed's decision was politically motivated to “try to keep somebody in office,” though he didn't say he favored higher rates in an interview on Newsmax. The White House called the rate cut “welcome news.” Harris' campaign message came before Trump was set to speak in North Carolina on Saturday where he was expected to talk about economic issues that negatively affect Harris, including the highest inflation in the U.S. in 40 years under President Biden, and polls that have consistently shown support for Trump's handling of the economy. Conversely, Nelson argued that Trump “as president would be an economic disaster,” pointing to predictions that higher tariffs and continued tax cuts for the wealthy could have inflationary effects. (Bloomberg)