Bangladesh, May 7 -- As the Biden administration approaches the crucial juncture of the upcoming presidential election, the specter of economic policy looms large. In particular, the question of interest rates and their potential impact on the economy has taken center stage. President Biden, like his predecessors, harbors hopes of a rate cut from the Federal Reserve, viewing it not only as a potential boon for financial markets but also as a signal of confidence in taming inflationary pressures. However, the current economic landscape presents formidable obstacles to such aspirations.

Since the Federal Reserves last interest rate hike in July 2023, Chairman Jerome Powell has maintained a resolute stance, prioritizing a cautious approach....