Federal Reserve ‘poised to begin cutting rates as early as September’

Bank officials signal readiness to start interest rate-cutting cycle to ease pressure on households and businesses

Kamala Harris's hopes of victory in the looming US presidential election have been given a boost by mounting expectations that the US Federal Reserve will cut interest rates from as early as September.

As Democrats gather for the party's national convention in Chicago starting on Monday, economists on Wall Street said the world's most powerful central bank was poised to begin a cycle of interest rate cuts before the end of the year.