Congress
US economic growth beats expectations in final snapshot of Biden presidency
High prices may have cost Democrats the election, but the U.S. economy has powered through 2024 with better-than-expected growth. And now President-elect Donald Trump is poised to inherit it.
GDP rose at a 3.1 percent annualized pace in the third quarter of the year, according to Commerce Department data released Thursday, after growing at a 3 percent rate in the second quarter — a rapid clip for an economy of the U.S.’s size. That growth, fed by steady consumer spending, comes alongside a still-low unemployment rate of 4.2 percent and much-improved inflation, which has fallen below 3 percent.
It’s the final big-picture snapshot of the economy that President Joe Biden is leaving to his successor.
“I feel very good about where the economy is,” Federal Reserve Chair Jerome Powell told reporters Wednesday. “I expect another good year next year.”
Still, the surging economy could also make it harder for the Fed to get inflation all the way back down to its 2 percent target. The healthy GDP numbers have come alongside strong productivity data — more economic activity doesn’t have to put upward pressure on prices if the economy can produce enough to keep up — but also stalled progress on inflation.
Central bank officials projected inflation would remain similarly stubborn next year, though Powell said he still thinks inflation is trending down.
Congress
Senate GOP ready to move on elections bill
Senate Majority Whip John Barrasso told reporters Monday the chamber will vote Tuesday to take up a House-passed elections bill known as the SAVE America Act.
The Wyoming Republican, whose job it is to help round up support, said he is “doing everything I can to make sure we get on this bill tomorrow.”
Republicans will need a simple majority to begin debate on the partisan legislation; they can lose three members and still let Vice President JD Vance break a tie.
So far, Sen. Thom Tillis (R-N.C.) has said he’s a “no,” while Republicans are also watching GOP Sens. Lisa Murkowski of Alaska and Mitch McConnell of Kentucky.
Congress
Jesse Jackson’s family withdraws posthumous endorsement in Illinois Senate primary
The family of the late Rev. Jesse Jackson walked back a posthumous endorsement of Illinois Lt. Gov. Juliana Stratton’s Senate campaign on Monday, after the family said Jackson’s endorsements for Tuesday’s primaries were not completed before his death.
On Saturday, Stratton’s campaign touted an endorsement from Jackson, who died last month, and his son Yusef. The announcement came after Stratton saw Rainbow PUSH Coalition, the Jackson family’s organziation, passing out sample ballots — which were also obtained by Blue Light News — that recommended Stratton.
“[Jackson’s] example has been a north star for me, and I’m deeply honored to have received his trust, support, and endorsement before his passing,” Stratton said in a statement on Saturday.
But on Monday, Yusef Jackson, who is the organization’s COO, said the draft sample ballot was “released without authorization” and that the Jackson family and Rainbow PUSH Coalition are not making political endorsements this cycle.
His father “began the process of reviewing candidates and identifying those he intended to support in the upcoming primary election,” Yusef Jackson said in the statement. “However, given his passing just over a month ago, the process was never fully completed. Out of respect for my father, we decided not to publicly release his intended selections given the process had not been finalized.”
The Stratton campaign said on Monday that officials with Rainbow PUSH Coalition said she had been endorsed by Jackson.
“Juliana spoke on Saturday at Rainbow PUSH for a Women’s History Month event and officials told her she received the endorsements. Organizers shared the sample election ballot that was already being distributed and encouraged her to share the news,” the Stratton campaign said in a statement.
The endorsement mix-up draws further scrutiny on the split among Black Democrats in Illinois between Stratton and Rep. Robin Kelly (D-Ill.), who are both seeking to succeed retiring Sen. Dick Durbin. Some Democrats in the state have expressed concern that Stratton and Kelly could split the vote in Tuesday’s primary, creating a path for Rep. Raja Krishnamoorthi (D-Ill.) to win the nomination.
Rep. Jonathan Jackson (D-Ill.) told Blue Light News prior to the family’s statement that his father “never got in on Black-on-Black fights.”
Jonathan Jackson added that the races the late Jesse Jackson “was excited about” were himself and former Rep. Jesse Jackson Jr.’s comeback bid.
“He wouldn’t do that. He was always pushing the community forward,” Jackson said. “This smells of desperation.”
Congress
Johnson on Trump’s Hormuz plan
Speaker Mike Johnson said he supports President Donald Trump’s effort to build a global coalition ensure safe passage of commerce through the Strait of Hormuz — even if Trump “didn’t anticipate it” being necessary before launching airstrikes against Iran.
Speaking to reporters after attending a Washington event with Trump, Johnson said the president told him that “he anticipated the strait of Hormuz would be closed.”
“I don’t know that he didn’t anticipate it in the front end, but now it’s necessitated,” Johnson said. He added that the coalition is “a reasonable thing” for other countries to assist with and “it would be helpful.”
Asked about how much a potential supplemental package to fund the military action would cost, Johnson said, “We don’t know yet.” Estimates for the cost of the war have exceeding $1 billion per day.
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