A Fed indifferent (at present) to politics

At its next monetary policy meeting on 7 November, the Fed is set cut its policy rate by 25bp, indifferent to the event two days earlier whose result may still then be unknown, namely the election of the next US president. Neither of the candidates have announced plans to trim the federal budget deficit. In an economy already running above its potential, this may cause excess demand and fresh price pressures. It is universally acknowledged that this risk would be higher if Donald...