WITH 48 DAYS UNTIL ELECTION, FED CUTS RATES... 'MAY BOOST KAMALA,' WAPO SQUEALS... WAPO: Federal Reserve rate cut may boost Kamala Harris in campaign homestretch The Federal Reserve’s long-awaited cut to interest rates may prove a boon to Vice President Kamala Harris’s campaign as the presidential election enters the home stretch. On Wednesday, the central bank cut the benchmark rate for the first time since 2020, lowering borrowing costs for businesses and consumers alike.