Im talking about wisconsin, a battleground currently showing a day had heat will talk to the states Democratic Party chair im dana bash. Lets go behind the headlines and inside Politics Cnn and Breaking News we begin with major Breaking News out of The Middle East. A fresh wave of explosions in lebanon. Their Health Ministry is reporting at least nine people have been killed after dozens of Walkie Talkies apparently blew up just a day after hundreds of pages by hezbollah floated, injuring thousands. I want to get straight to beirut and cnns ben wedeman, ben in addition to the nine people so who have been killed so far today, according to the ministry of health, theyre saying more than 300 have been injured in this second day of blasts the across the country. Now, according to lebanese security sources, there were somewhere between 15 and 20 explosions of devices. Its believed Walkie Talkie hes in the southern suburbs of beirut. Thats where hezbollah has a strong presence. One of those blasts going off during a funeral for people killed in the pager Explosions Yesterday in beirut. In addition, there were a similar number of explosions in the southern part of the country as well. This is obviously put nerves very much on Edge Keeping in mind that by enlarge with a few notable Exceptions Violence between Hezbollah And Israel has largely been restricted to the border area. Cities like beirut and elsewhere in lebanon have largely been spared, but now, given that we have seen these blasts happening in the Hundreds Yesterday and dozens have them today in cities like beirut and elsewhere. It certainly does put nerves on edge. Now, we are expecting secretary general general of hezbollah, Hassan Nasrallah to make a Speech Tomorrow Afternoon at 5 00 local time. The fear is that were on the verge another escalation. In fact, we are obviously in an escalation right now given the events of yesterday and today, hezbollah has vowed to take revenge for these blasts. We dont know to what extent they can, given that. Clearly theyre communications networks, their intelligence networks have been to some extent a compromised as by what were seeing in the last 24 Hours Dana and i mean truly remarkable story. Its like were watching some film i said to you beforehand, its as if its a James Bond Movie and us said more of a nightmare. And i think all those things are true. Thank you so much for that reporting stay safe. And we will talk soon if we get more information now we want to come back to the u. S. Chairman of the Federal Reserve to announce the fed is cutting Interest Rates for the first time since 2020. The Central Bank is essentially declaring mission accomplished in the war on inflation. The problem is a lot of americans think that at war is far from over. Now by one measure, prices are 20 higher than they were when President Biden and Vice President harris took office. And polls like the one were showing you now from abc News Show voters trust trump more than harris to bring down inflation heres what both candidates are saying on the trail about this, this week the economy is now not good. And Interest Rates youll see, theyll do the Rate Cut and all the political stuff tomorrow. I think. And will he do a half a point . When they do a quarter of a point . But the reason is because the economys not good. Otherwise you wouldnt be able to do it. But were going to get Interest Rates down as of today, we have created over 16 Million new jobs, over 800,000 new Manufacturing Jobs we have the lowest black Unemployment Rate in a generations because the price of groceries still too high . Yes. Do we have more work to do . Yes. Lets bring in our great group of reporters here, semaphores. Dave weigel cnns mj lee, Hans Nichols of axios and our own fed expert, Matt Egan is here in washington of course, because of this big fed meeting, Matt Ticket away, tell us what we should expect well, dana, this is a big moment. The first Rate Cut since covid, the fact the fed is even willing to Lower Interest rates at this point, it really speaks volumes because it means that they dont think inflation is this Clear And Present Danger to the economy. And that is really good news. A lot of people didnt think we would get here at this point without the fed wrecking the Jobs Market. But that hasnt happened. Unemployment is up, but it is not skyrocketing. So i dont think we should lose sight of the bigger picture here, but now they face this decision, right . Do they go big with a 50 Basis Point Interest Rate Cut, or do they . Lower Interest Rates more gradually . And what they decide there really is very important, not just because a bigger cut means a bigger break for borrowers because of what it signals, right theyre able to do a gradual interest Rate Cut. It would signal some confidence. They dont think the economy needs to be rescued. But if they do a bigger cut, it would suggest some level of growing concern about the Jobs Market we can debate how concerned and well hear from powell himself. But a lot is at stake here for the real economy, for markets and for main street. And talk a little bit more about the Interest Rate where it is, where it could go short while were talking about 23 year highs for Interest Rates, the fed had the spike rates to try to play but at this Inflation Fire and the Big Question is whether or not they cut Interest Rates by a quarter of a Percentage Point or if they go bigger with a half a Percentage Point. And right now the market is leaning towards a bigger interest Rate Cut, but you know what thats not, thats a risky thing that the fed could do here, because there is a chance that some people are going to see that the fed is moving big and they could end up getting worried about maybe what the fed knows that we dont know. And so its going to be a tough decision. I talked to Moodys Economist Mark zandi. He told me he thinks theyre going to do a smaller cut because he said bigger cuts are for emergencies. And this doesnt feel it and hans, i want to talk about how this relates, of course to politics because so much of the way that voters are thinking about who theyre going to choose in november has to do with what i call a crisis and affordability, which is all should all about inflation, but also all about because of the high Interest Rates at things so difficult to buy houses and cars and so forth i remember when i first started covering president ial politics particularly i was on the Bush Reelection Campaign in 2000 for everybody would hold their breath in the John Kerry Campaign in the George W Bush campaign, when the Jobs Numbers came out the first friday of every month to see what that meant because that was so indicative of where the electorate was. This time its all about inflation and where those numbers are for the truth nerds and i dont mean to implicate anyone whos taking what they really look at the White House is the Consumer Sentiment Survey Boards in the conference boards and the surveys that gives you an indication of just how healthy consumers are big, brings you into this big debate, is that should you listen to what consumers say, or should you listen to what consumers do . And what are they doing . Theyre spending. So that means they might actually be happier than theyre telling pollsters and what you really see from the White House is angle on this is that they look at a couple of Headline Prices that are not going to be a huge Surprise Anyone at this table and large part because we all see them and thats the price of eggs, the price of gas, things that people see every day. And when they see there is that those are going down, especially on the gasoline front, inside the White House. There are two views and theyre not necessarily in contradiction the other, but one, they liked where prices are trending, especially on some of these headline numbers. Yes, they have to acknowledge that there are higher. But two, theres this view and i want to be very careful here. Its a private view and its a private view that the fed is too late on cutting rates. Now, youll never give anyone the White House to say that publicly because they respect the feds independence. But privately its not controversial among democrats to suggest that the fed is behind, and they should perhaps go bigger and they dont want to play catch up on an economy. But the soft landing, and i think this is matts point still possible. The better question is matt, whats your question for pow well, i think one of the Big Questions, a lot of us around the table have how would powell deal with another trump administration, right . I mean, former President Trump was the one who nominated powell to the job, but they had a tense Relationship And Trump has advocated for president s having a greater say in Interest Rates, which is something that the fed obviously does not want to see, called him a bad puttur. And for Donald Trump, when he goes back harder, had no touch. Those are Fighting Words as we saw from the debate, you dont want to get into Golf Debate with president. Yeah. I mean, trump is very clear that the fed has gotten it wrong. Hes, he is saying what the biden people are saying privately. No surprise. Publicly. I wanted to kind of broaden out the aperture a little bit and look at, i mean, i mentioned obviously inflation, the economy is number one across the board. But if you look at where the spending is on ads, which is of course a precious resource, even though particularly the harris, they have a lot of money, but where theyre spending it on the themes are David Wright did a terrific analysis of where the democrats are spending Money And Abortion russian taxes, Health Care, medicare character. I mean other issues are higher than the economy and inflation. Why do you think that is . Yeah, i think as we have been watching Kamala Harris sort of take the torch from President Biden as she has become the democratic nominee. Its been really interesting to watch how she has navigated the broader economic issue the bet that she is making is that the messaging that is going to be most successful is not to talk more broadly about the economic recovery. I mean, shes going to do that, of course, but the messaging that is going to really land its two point at specific work that the administration has done to cut Prices Price cuts is going to be the phrase that you hear the most i think when you are listening to Kamala Harris talk about the economy and actually the very first time that we saw President Biden and the Vice President together at an official event after he dropped daoud was in the Suburbs Of Dc at an event touting, cutting prices of Prescription Drugs they know that the economy has been really sort of paradoxical story for the biden administration. They can point to the historic economic recovery and all of that and particularly the robust Jobs Market. But they also know that that hasnt perfectly translated and certainly not proportionally translated to general economic optimism and certainly not translated to credit to the Bidenharris Administration and one of the things when you are right about what she talks about with regard to what they have done when you listen to Kamala Harris on what she will do you can almost start a Drinking Game every time she says Small Businesses. Let me give you an example. Part of my plan under my economic Opportunity Plan going forward is that right now startup entrepreneurs, Small Businesses only get a Tax Deduction of 5,000 nobody can start Small Business with 5,000. So im expanding that to 50,000 understanding. Again, that when people have the opportunity to have the resources to get started, theyre going to put the good ideas, theyre going to put the hard work into it. Describe the politics of that she says that she also talks about being a middleclass kid. Thats also the front of her answers. If you look at the interviews theyve been doing local media and theyve opened up a bit more since the debate. The first question is often, what are you going to do to lower prices, which is a very hard question for an incumbent party to answer. And it has implicated implications that are very trumpy and it is. Trump says so hes going to do Mass Deportation that will decrease demand. Trump says will explore more energy that will decrease Energy Cause democrats can point to the fact that inflation is actually, it was bad two years ago. Its not now. Good. People want to hear is how do you make the prices go down . So everything she says is something realistic that could survive a fact, check the answers, a very hard question. There is not a plan to say they say they were going to lower the cost of your Grocery Bill to what it was in 2019, there was a pandemic. There is money, money supply, inflation. You cant hit the button that makes that go away. But trump has an answer that gets him through these questions. And harris, i think with a different set of incentives in a different relationship to some things you can back up in a policy paper. She doesnt have an answer, so she goes to a larger for well, imagine a future where there are more businesses and this starts to ameliorate. Thats really interesting and were going to talk a little bit more in the next segment about wanting to say things that could survive a fact check. Dont go anywhere because coming up, Kamala Harris is about to speak to the congressional hispanic Caucus Institute. We are monitoring the event and well bring you any news that they have there live also quickly want to thank Matt Egan for being here. 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Any minute, harris will address the congressional hispanic caucus span Caucus Institute before joining a Campaign Call aimed at mobilizing young voters. This as her team releases a new ad appealing to asian american voters. And on the heels of her event with the national association of black journalists, Cnns Priscilla Alvarez is traveling with the Vice President , priscilla. What are you hearing from Team Harris . Well, dana, this is certainly a push by the Harris Campaign to bolster the democratic coalition taken together the events and campaign activities over the last Week Amount to a campaign trying to bolster that support is putting millions into Spanish Language ads speaking to the national association of black journalists, as you mentioned, and