The world is about to get some much-needed clarity on the US economy’s future

For months, US consumers and businesses have felt some degree of paralysis from the upcoming presidential election, putting off purchases and investments until the world knows who will move into the White House, according to surveys and comments from corporate executives.

A dense fog clouding the US economy could soon clear. For months, US consumers and businesses have felt some degree of paralysis from the upcoming presidential election, putting off purchases and investments until the world knows who will move into the White House, according to surveys and comments from corporate executives. Vice President Kamala Harris and former President Donald Trump both offer economic agendas that broadly aim to improve affordability and strengthen the economy, but each have starkly different approaches — which would result in different effects on taxes and inflation. But businesses may not get the clarity about America’s economic policy direction right away: Polls show a tight race, which could mean it will take some time to determine who the next president will be. One bit of clarity they’re sure to get: The Federal Reserve’s latest interest rate decision, due to be announced Thursday. The Fed lowered borrowing costs in September for the first time in more than four years while signaling additional rate cuts. But a slew of economic figures have been released since the decision, which is important because the Fed’s decision are guided by what those figures show. Chair Jerome Powell’s remarks at a post-meeting news conference Thursday could shed some light on whether Fed officials’ earlier expectations for the pace of rate cuts still hold. Don’t expect all lingering uncertainties to be answered this week. Still, America’s wait-and-see posture could, at the very least, begin to thaw.