Some might think that the upcoming election in 2024 will influence the Fed's rate policy – leaning toward lowering those rates. Don't count on it.
Speaking on a news video produced by Marcus & Millichap, John Chang, its Senior Vice President and National Director of Research and Advisory Services, said that while he can't definitively say what the Fed's policy will be in 2024, historically speaking, interest rate movements during election years have not been measurably different from non-election years.
Looking all the way back to 1955, the federal funds rate has gone up in election years 10 times by an average of about 135 basis points and the overnight rate has gone down seven times by an average of about 140 basis points.
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