August 01, 2024

Interest rate cut under consideration; Trump questions Harris' race

9 minutes

On the version of Hot off the Wire posted Aug. 1 at 6 a.m. CT:

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell has set the stage for the central bank’s first rate cut in four years. Powell cited greater progress toward lower inflation as well as a cooler job market that no longer threatens to overheat the economy. Still, the Fed kept its key interest rate unchanged Wednesday at a 23-year high of 5.3%, despite calls from some economists and Democratic politicians to implement a cut Wednesday. Instead, Powell said that, if inflation continued to cool, “a rate cut could be on the table” when it meets next Sept. 17-18.

CHICAGO (AP) — Donald Trump falsely suggested Kamala Harris had misled voters about her race as the former president appeared before the National Association of Black Journalists in Chicago Wednesday in an interview that quickly turned hostile. The Republican former president claimed that Harris, the first Black woman and Asian American to serve as vice president, had in the past only promoted her Indian heritage. “I didn’t know she was Black until a number of years ago when she happened to turn Black and now she wants to be known as Black. So I don’t know, is she Indian or is she Black?” Trump said while addressing the group's annual convention.

CARACAS, Venezuela (AP) — A former U.S. Green Beret who organized a failed crossborder raid in 2020 to remove President Nicolás Maduro has been arrested in New York. An unsealed federal indictment out of Tampa, Florida, accuses Jordan Goudreau and a Venezuelan partner of violating U.S. arms control laws when they allegedly assembled and sent to Colombia AR-styled weapons, ammo and other defense equipment requiring a U.S. export license.

WASHINGTON (AP) — Vice President Kamala Harris appears to have energized Democrats in the early days of her candidacy, with the surge in warm feelings extending across multiple groups, including some key Democratic constituencies that had been tepid about President Joe Biden.

In other news:

US-Mexico border arrests are expected to drop 30% in July to a new low for Biden's presidency.

NYC man accused of damaging license plates on Secret Service vehicles guarding VP's stepdaughter.

FDA warns about more ground cinnamon tainted with lead. Here's what you need to know.

Ukraine receives first F-16 fighter jets to bolster defenses against Russia, a US official tells AP.

Boeing names new CEO as it posts a loss of more than $1.4 billion in second quarter.

Colombian President Petro calls on Venezuela's Maduro to release detailed vote counts from election.

—The Associated Press

About this program

Host Terry Lipshetz is managing editor of the national newsroom for Lee Enterprises. Besides producing the daily Hot off the Wire news podcast, Terry conducts periodic interviews for this Behind the Headlines program, co-hosts the Streamed & Screened movies and television program and is the former producer of Across the Sky, a podcast dedicated to weather and climate.

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