Trump-Harris presidential race not significantly affected by Powell's rate cut announcement.

• Jerome Powell, the Federal Reserve Chair, stated that the interest rate cut on Wednesday may not significantly affect the November election between Vice President Kamala Harris and Donald Trump, as the decision's effects will be felt in the economy over time.
• The Federal Reserve reduced interest rates by 50 basis points, its first cut since March 2020, signaling a significant step in the U.S. economy's post-pandemic recovery.

Jerome Powell, the Federal Reserve Chair, stated that the larger-than-anticipated interest rate cut on Wednesday may not significantly affect the presidential race between Kamala Harris and Donald Trump, as the decision's effects will be felt in the economy gradually.

On Wednesday, the Fed announced a 50 basis point cut in interest rates, its first since March 2020, signaling a significant milestone in the U.S. economy's post-pandemic recovery.

This is a developing story. Check back for updates.