Joe Biden Gets Boost from Fed Rate Decision

The U.S. central bank held rates at their current range for the fourth straight time, signaling that the hiking cycle may be over setting up the stage for possible rate cuts in 2024. The possible reduction of rates, which, at their current two-decade highs, have helped push up borrowing costs across the economy, could be a boost for President Joe Biden as they could reduce the cost of buying a home and business investment.

Beginning in March of 2022, the Federal Reserve raised rates at the most aggressive pace since...