WASHINGTON (NEXSTAR) - The presidential election is 47 days away and both campaigns say they would be better for your wallet. Polls show the economy and inflation are top issues for voters. In New York Wednesday, former president Donald Trump said people were better off when he was in office. "People that used to live a nice life four years ago, they can't afford an apple,” said Trump. Trump said if re-elected, he'd cut taxes and cap credit card interest rates.  He also commented on the .05 interest rate cut by the Federal Reserve. "It shows the economy is that bad if you cut it by that much assuming they're not playing politics,” said Trump. President Joe Biden called the rate cut an important day for the country. During remarks at the Economic Club in Washington, D.C., he said Americans will now have more confidence in buying a home or car. "It's good news in my view for the overall economy because lower borrowing costs will support economic growth,” said Biden. The president also highlighted he and Vice President Kamala Harris' efforts to improve the economy post-pandemic.  He cited the Inflation Reduction Act and infrastructure investments. The White House says both laws helped the economy. "These are concrete measures that we've taken to help get us to where we are and I would argue the president and vice president's fingerprints are on these results,” said U.S. Council of Economic Advisors Chair Jared Bernstein. Vice President Harris is joining Oprah for a virtual rally in Michigan Thursday night while former President Trump is meeting with Jewish leaders in Washington, D.C., to talk about fighting antisemitism.