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High Borrowing Costs Have Some Democrats Urging Biden to Pressure the Fed
Lindsay Owens, executive director of the liberal Groundwork Collaborative in Washington, has been calling on the Fed to cut rates for months. But in an interview, she said she did not think Fed officials would bow to pressure from Mr. Biden or anyone else — and that Groundwork’s own private polling was not conclusive on whether voters would reward Mr. Biden for trying. “I have seen nothing in the last few years that suggests that any advocacy, from organizations like mine or from the president, will change Powell’s calculus,” Ms. Owens said.