Funding focus shifts to Senate

September 19, 2024

Welcome to The Hill's Business & Economics Newsletter

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Business and Economics

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Biden calls for 'better choices' in economic speech, contrasts with Trump

President Biden on Thursday touted a “manifesto of progress” after the Federal Reserve slashed interest rates, arguing that his economic policies have put the country on strong footing and warning of the possible risks of returning to the policies of former President Trump.

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“That's exactly what I believe is happening in the economy,” Yellen said of her prediction of a 'soft landing'.

Treasury Secretary Janet Yellen said on Thursday she believes the U.S. economy is on the verge of a “soft landing,” as she predicted two years ago when inflation spiked in the wake of the pandemic.

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Ocasio-Cortez and Teamsters at odds over Trump and Harris endorsements

Rep. Alexandria Ocasio-Cortez (D-NY) and Teamsters President Sean O'Brien engaged in a heated exchange following the union's decision not to endorse Vice President Harris or former President Trump in the presidential election.

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Ticker

Upcoming news topics and events to watch:

President of the Federal Reserve Bank of Philadelphia Patrick Harker gives a speech Tulane University Friday noon event.
of Personal consumption expenditures The Federal Reserve's Preferred Price Index (PCE) Inflation GaugeIt is scheduled to be released next Friday morning.

In other news

Here's a more detailed account of what happened that day:

Genetic testing company 23andMe's CEO seeks to take the company private, director resigns

NEW YORK (AP) — All of 23andMe's independent directors resigned from the company's board this week.

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Good to know

Other business and economic news highlights from other media:

The Dow and S&P 500 Record highs After the Federal Reserve Board's (FRB) massive interest rate cut (CNN)
The UAW warns Potential strikes One year has passed since unprecedented work stoppages at Ford and Stellantis.CNBC)
Trump The Federal Reserve's interest rate cut marks a new attack on the economy.POLITICO)

What others are reading

Top stories on The Hill right now:

Robinson says he will remain in North Carolina gubernatorial race after CNN's shocking report

North Carolina Lt. Governor Mark Robinson (Republican) announced his intention to remain in the gubernatorial race on Thursday, following speculation throughout the day that he might drop out following the shocking CNN report. read more

White group backing Harris announces eight-figure battleground state campaign

The White Dudes group, which supports Harris, launched a $10 million ad campaign on Thursday, with its first ads targeted at white men in Michigan, Pennsylvania and Wisconsin. read more