Sign? plus an explosive report suggests two women died under abortion restrictions. And now kamala harris is he's blaming donald trump it's immoral it's a moral also 47 days until the election. The republican nominee he demands his party shut down the government over his election lies politically beyond stupid. And melania trump, emerges to sell a book, but not necessarily her husband why do i stand proudly behind my nude modeling work? live at the table. Jonah goldberg nayyera hop, geoff duncan, and madison, jesse auto. Welcome to a special edition of newsnight date of the race i'm abby phillip in new york. Let's get right to what america is talking about. Did kamala harris just get a major economic boost or didn't donald trump just get another reason? to criticize her for the first time since the pandemic in four years, the fed of cut interest rates, it's a big, big move, especially if you're trying to make a big, big purchase. And some economists say it shows a soft landing that the united states is finally turning the page on inflation. But there are some others who say it could mean a downturn is on the horizon. Now, as for the candidates, harris calls it some welcome news. Trump though. He's saying it's all politically motivated yes, it shows you economy to kind of buy that much so i mean, they're not just playing politics economy would be very bad or they're playing politics. One of the other budget, there was a big guy joining us in our fifth seat tonight is cnn economics analyst catherine rampell. Catherine, i'll let you take that on from donald trump out, add to it. Steve moore, who is our concern? economists. He says, i'm not saying a 50 point reduction is isn't justified. It may well be and they have more data than i do, but i just think why now? there's no reason that they couldn't do 25 now and 25 after the election this is just nonsense. Look, we know for milton friedman noted democrat of course that fed policy works with long and variable lags, meaning that whatever the fed did today, we are not going to feel it in the economy by november, if the fed were actually trying to do something i'm not saying they weren't, but if they were trying to do something to help democrats, they would have cut rates like nine months ago that's around the time you would have needed to have any sort of effect on the real economy at this point. But more to the point the fed is politically independent. They prize their political independence. It is important for them to be seen as above the political fray as not being influenced by the near term political ups and downs of what's going on in the economy or what's going on in the country in order for there there are medicine to work, right? if people don't believe that they are politically independent, then they're going to say, well, we don't really believe that they're committed to stable prices. And so inflation expectations can get unmoored. We've seen this happen in lots of other, as you're talking there, it just reminds me that yet again, this is another institution that trump thinks is operating in a political way and so he, he then says, well, if i were president, i would make them political. I would put my thumb on the scale because i have a right to because that's what they're doing, but that's not what's happening here. Now. It's good the whole entire point of having a monetary system that is independent is for these to be clear eyed views and perspectives. Now, the idea of inflation in the economy being political issues. Yes, but there's only so much that each president can do when you have some fundamental challenge doesn't shock to the system, to bring the economy back to a place where it's not just the economic indicators, but people feel like it's better. So this is just another opportunity for both candidates to jump on the lowering of interest rates to pretty much advance their own economic policy agendas. I mean, don't you think there is a psychological effect to this though? i mean kathrine's right, that there the lagging indicator, but i know a lot of people who have been anxiously cert had this date circled on their calendars they want to buy a house. They they're just thinking longer term about their lives and they want to know if these interest rates are going down. Will that psychological effect? help? yeah, look i have a psychological effect at minimum. It can't hurt harris, right? i mean, i don't see how you could spin it in a way and say, oh, so interest rates are finally starting to come down. And that's bad for harris, right? so you can tell just from where the noises that's trump world are making that they're uncomfortable with this and i agree entirely with catherine, the idea that somehow the fed has been doing. Joe biden's bidding is a little hard to square with the fact that joe biden has been chased out of running for president because he was so unpopular as the economy was doing so badly and he would have done, he would have, he would have liked to seen you and joe biden when he would like to see interest rates go down and it was nine months or year ago or he won't say anything at all although he did recently put on a trump hat. So like anymore? yeah. But it's like what inflation if all of a sudden we saw that inflation just stopped entirely prices are still be high, but psychologically, that would be really reassuring to a lot of people on the argument that president trump was making that some republicans on the right are making, is that the cut is an indication of maybe some bad times to come and of course, the bigger question is, how does this impact people obviously she said it is a lagging indicator, but when you look at a lot of things, people across the country struggling with right now, like credit card debt we're looking at people who maybe have a $1,000 credit card bill when you cut and they have maybe a 20% interest rate, we're talking about $0. 42. They're saving monthly on their finance charges. This is not that much so people economically i think are still struggling in this country. And we're going to need a lot more relief than that to really move the ball. Of course, housing still a huge issue. A lot of economy i'm just saying we could continue to see right. Prices rise. And this may not solve the crisis that we're seeing in the housing market whatsoever. And the housing crisis isn't one just of interest rates, right? it's affordability, it's access, its what is available and for folks were trying to get into that next hear i mean, our generation of millennials, we are unable to buy homes at rates that have never been seen before because of the price, the price gap. But here's what i wanted. It's hard to believe. I think it's interesting i mean, we've, we interest rate that made it more expensive. But the primary reason why housing is so on affordable is that we've made it almost impossible we've seen rates like this, but i do think there's something to be said for people who four years ago, this is the psychological element of it. Four years ago, they said to themselves i was seeing twoandahalf mortgage rates and i could afford twice as much house as i could afford right now, there is a psychological component to this that's making people feel just pretty dour. The economy is 3d chess for sure, but it's interesting to candidates are trying to solve for different problem with today's announcement than the fed is in jerome powell. This they're trying to talk about inflation in jerome powell is trying to, trying to push in ourselves again some sort of freefall in an economic situation where deflation starts to kick in. So we're trying to find this equal balance it's interesting if you're sitting here and trying to retire, you look at your house is worth it's more than it's ever been worth your assets, your for one is your your your portfolio. And so there's different parts of the economy. But i think if you look back at 2001 and 2007 at the peak of the equity markets is when they started making their first round of cuts and then you watched what happened over the next 12 to 18 months. If you don't play this out this isn't some sort of guaranteed goldilocks situation. This is a very difficult, but i do think it is so disingenuous of americans do not give blame to both parties for getting us to this spot. We printed 16 trillion where the money we didn't have over the last eight years and we handed it out under the guise of economic crisis under the guise of health crisis, under the guise of what? never crisis, $16 $20. We don't have, therefore, we get to these peak interest rate moments and then we come back and fall down so i want to shift gears a little bit though, because there was another piece of big news today, the teamsters a union that has been dragging its feet on an endorsement for some time now they decided what they were going to do, know endorsement. Know doris meant for harris no endorsement for trump. But in the meantime, they did kind of knife harris and the process they released this internal polling data that shows that there was a big swing after joe biden left the race. Joe biden was leading trump when he was sent still in the race among union members after he left the race, harris first trailing trump. They did not endorse. And here's what sean o'brien, who, by the way, he spoke at the rnc. This is what he had to say the democrats have always taken for granted that they're going to get our vote no matter what. And the republicans, a fancy themselves as the work in parties, working people's party. I think gray now both sides have to take a step back and really reevaluate what their commitment is to working people and that's what we did in this process so catherine, this is not an economic question because i don't think this has anything to do that economics, right it's donna shake i mean, the facts are what they are. The biden/harris administration literally bailed out the teamsters pensions but that's really not what this debate is about within this particular union. It's not only that you point out that yes, they bailed out the teamsters pensions. That's not the only major favor or whatever you want to call it that democrats have recently bestowed on the teenagers and on union members in general excuse me joe biden and kamala harris walked the picket line with the uaw donald trump was recently in a conversation with elon musk cheering on elon musk for firing workers were trying to unionize. And sean o'brien referred to that as shuttle brian, the teamsters leader for to. That as economic terrorism, there are all of these data points that suggest that democrats are much more aligned, or at least willing to be pliable. The preferences of union members, including teamsters members and yet it's not about that, right? it's about culture war issues or some other sort of an effect related to trump rather than his policy stances or, or really his record is shocking how many times you will see voters voting against their own interests because of a cultural perception. I mean, listen, the head of the teamsters was at the rnc. He was rallying for trump and for the teamsters then to not endorse trump shows how much dissension there was some tension, there wasn't the ranks biden/harris have gotten pretty much every other union endorsement they also have their own independent field operation, which is often what campaigns rely on unions to get, get the vote out. They've got those community connections. So i think i do see the loss for trump for not having had the endorsement of the union behind the personality that was at his campaign. But this is a huge win for trump. But i mean this is a union who has not endorsed republican since 1988 and has endorsed the democrat almost every single time in 30 years, other than sitting out in 1996. So i think them sitting out is the win that obviously of course you could always have a bigger win but to have that when i think it's huge and i do think this speaks volumes to the fact that the rank and file members of the union as well as democrats in general, are really losing you know, their losing that touch that they had with blue collar workers in this country as a republican, i've just kind of number this because i'm used to not getting a tip just seems like do you think it's speaks louder volumes to these mixed coalitions that we're going to see forum and just kind of the electorate is going to be in a blender showing up to vote in 2020, 2024 in november. And we're going to see all kinds of different different. And i think that leads to some of the noise in the polling that we're seeing to show up. And it's just awkward. We can't put our fingers on i mean, i think the teamsters are essentially a canary in the coal mine of the erosion or dismantling of the old fdr coalition that we've been seeing for a very long time trump did not create that trump accelerated it. You can go back to nixon as relationship with the unions i just want to say, look, i do not credit the head of the teamsters talking about how he is representative of the working man, right? it's a euphemism that a lot of unions used just make it sound like if you're not a member of the union, they don't support a union. That union, the teamsters just got out of federal receivership. So like a quarter of a century because it took them that long to get the mob out of it teamsters. Her historically corrupt goon squad, and there are other unions if i were democrat would be very proud to have in my corner, in teamsters aren't necessarily one of them. But regardless, i were only place i disagree with you is i agree with you. There are a lot of voters who don't vote. Their economic interests anymore. But that is something that is that is scalable up and down the socioeconomic spectrum where we have moved from the old definition of what it means to be left, which is the class conscious of the bernie sanders model. And much more in sort of the cultural politics of the sort of squad model. And that reverberates all over the place. And that's one of the reasons why the white working class democratic. I think that this reveals that there has been a little bit of kind of glossing over the fact that within unions, there are all these racial and cultural tensions. Now, it's just breaking wide open at the idea that everybody can just come under one economic tent that's been questioned for generational issue here, right? we're talking we're in an election right now where there's me 41 million new voters after this election, the majority of the electorate will be between the age of 18 and 45 the union of old were largely appreciated and recognized by the boomer generation. Young workers, gig workers are recognizing the value of unions, but they're going to take a different forum than what the teamsters have taken in the past caved on right to work, which is what the teamsters wanted. But i think the teamsters would have endorsed. Llc. I mean, i will we will see if that ever happens. Catherine. Thank you very much for joining us. Everyone else stick around for us because coming up next, there's a chilling report, the death of two women being linked to abortion bans that were put in place after the fall of roe. And now kamala harris is blaming donald trump for it. Plus trump