Wylie Tollette, chief investment officer at Franklin Templeton Investment Solutions, believes that "a 50 basis point rate cut could actually accelerate or amplify that if inflation in the housing sector persists," and he expects the Fed to cut rates by 25 basis points next week, adding that the election could also complicate the prospect of a significant rate cut. Trump has previously said a Fed rate cut would help Harris become the incumbent vice president "even though they know they shouldn't". "The Fed's path is that they want to do what's right for the economy and I don't think they want to be seen as favouring the incumbent candidates with more aggressive rate cuts," said Mr. Tollette.