The Globe and Mail reports in its Wednesday edition that some Democrats are concerned that the interest-rate cuts they were expecting to boost their party's chances in November's election may not happen. The Globe's Konrad Yakabuski writes that as a result, they are urging President Joe Biden to publicly pressure Federal Reserve Chairman Jerome Powell to lower rates, in an attempt to deflect blame for the high borrowing costs affecting voters. Although Mr. Biden has so far respected the independence of the Fed and refrained from interfering in monetary policy, some strategists are pressing him to drop this approach and criticize Mr. Powell. This is in contrast to former President Donald Trump, who frequently attacked Mr. Powell and even threatened to remove him from his position. Democratic pollster Evan Roth Smith last week told The New York Times, "Voters at least knew Trump didn't like it when interest rates went up." High borrowing costs could prove Mr. Biden's undoing. The Globe says to the extent the Fed's stand hurts Mr. Biden's re-election chances, it may be setting itself and the U.S. economy up for a potentially perilous future under Mr. Trump. It must not ignore the unintended consequences of higher rates.