September 19, 2024
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13:03Now PlayingDonald Trump supporters and MAGA Republicans, such as Tommy Tuberville, explode in panicked rage over the Federal Reserve's interest rate cuts, which would be good news for decreasing inflation, leaving Trump and JD Vance to push desperate lies about the major financial announcement. Sharon Reed and Maz Jobrani break it down on The Damage Report.
Read more here:
MAGA Is Furious at the Fed for the Strangest Reason
"MAGA Republicans seem weirdly upset that inflation is going down.
The Federal Reserve announced Wednesday that it will cut interest rates by half a percentage point, a move that signals inflation has decreased significantly. The announcement comes after Donald Trump and J.D. Vance spent months attacking the Biden administration for high levels of inflation, even as it fell to the lowest rate in years.
At a Vance rally in Raleigh, North Carolina, the Ohio senator’s audience didn’t seem too happy about the change.
Vance was asked for his reaction to the Fed cutting rates, which would “alleviate inflation for a lot of people.” Before he could answer, his crowd started to boo.
This response was particularly odd considering the fact that cutting interest rates has the potential to actually be good news for everyone."
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