Yes its about the electionWhy would you vote for an administration with 5-5.5% rates....other than GIC lovers can't say many think that is acceptable affecting everything from student loans, medical procedure financing, mortgages, lines of credit etc. Definitely more important that carbon emissions or foreign policy, and other stuff no one cares about. Inflation victory lap and lowering rates with the citizens content and feeling good about the economy is key. Political pressure will be on, especially given how much they do not want trump back in.