A line of unsold 2024 Edge utility vehicles sit at a Ford dealership Sunday, May 19, 2024, in Denver. Policymakers’ willingness to keep their key rate at a two-decade peak — thereby keeping costs painfully high for mortgages, auto loans …WASHINGTON —
At the same time, with polls showing that costlier rents, groceries and gasoline are angering voters as the presidential campaign intensifies, Donald Trump has sought to pin the blame for higher prices squarely on President Joe Biden. Last week, economists at Goldman Sachs became the latest analysts to give up on a rate cut in July, pushing back their forecast for the first of two cuts they expect this year to September. Oxford Economics made a similar call last month. Bank of America foresees just one Fed rate cut this year, in December. Just months ago, many economists had forecast the first rate cut for March of this year.
And more companies, including Target, McDonalds and Burger King, are highlighting price cuts or cheaper deals to try to attract financially squeezed consumers. Their actions could help lower inflation in the coming months. But they also underscore the struggles that lower-income Americans face.
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