3.20.2024 | Forbes
By Steve Brozak
The 2024 Biden-Trump Presidential rematch is officially on, and health issues will be a major election outcome determinant. As it is easier to promise than to deliver, the focus should be not only on the promises of the two party platforms, but also on the prospects for realization of those promises. The determinant of the latter will overwhelmingly rest with the action of The Federal Reserve (Fed) regarding setting interest rates.
Why the Fed and interest rates?
First, enactment of any policy, no matter how noble the intention, is limited by the ability to pay for it. Among the largest areas affected by interest rates is personal and employer-provided insurance coverage. About half of the adults in the U.S. say it is difficult to afford health care costs. Even those with health care insurance express concern about keeping up with rising premiums. Employers find themselves in equally turbulent waters. As insurance provider markets become more concentrated, even very large employers lack sufficient market power to rein in prices from health systems.
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