“The Federal Reserve on Wednesday approved a widely anticipated rate cut and signaled that two more are on the way before the end of the year as concerns intensified over the U.S. labor market,” CNBC reports.
“Newly installed Governor Stephen Miran was the only one of those voting against the quarter-point move, instead advocating for a half-point cut.”
A new Quinnipiac poll in New Jersey finds Mikie Sherrill (D) leading Jack Ciattarelli (R) in the governor’s race, 49% to 41%.
Six percent are either undecided or did not provide a response.
Said pollster Tim Malloy: “With just under seven weeks to go, the race for the Trenton State House leans Sherrill’s way as Ciattarelli lags on three key character issues: honesty, empathy and leadership.”
A suspect has been detained after a gunshot was fired at the home of Illinois state Sen. Meg Loughran Cappel (D), NewsNation reports.
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Rep. Jamie Raskin (D-MD) called for the House Judiciary Committee to subpoena the CEOs of four major banks, J.P. Morgan Chase, Bank of New York Mellon, Bank of America and Deutsche Bank, NBC News reports.
The Maryland Democrat called for the subpoena “in order to get the suspicious transaction reports these four banks have flagged to the government” related to the Jeffrey Epstein case.
Josh Huder: “Chuck Schumer is facing the problems well known to House Republican leaders. Internal divisions have placed him in a losing position. As a result, coalition management becomes the priority. How can he satisfy members clamoring to oppose Trump and those wary of flagging poll numbers and elections? You pull a John Boehner. Shutdown the government to offer a fig leaf to the a base until defeat is obvious and some face-saving message can be found…”
“Put simply, this shutdown decision is a Democratic coalition issue masquerading as a Republican v. Democratic showdown. Democrats will not win a shutdown. So how do you gracefully exit an impossible situation?”
Matt Glassman: “In some very real sense, it doesn’t matter if the liberals are wrong about a shutdown on the substantive political merits. If they are a substantial part of your coalition, you need to cater to their preferences. Leaders who don’t follow that maxim are not long for their jobs.”
Bloomberg: “Anxiety within the Republican ranks over Donald Trump’s trade policies bubbled to the surface on the House floor this week when a small group of lawmakers pushed back on the president’s signature foreign economic policy and sought a bigger say in how tariff levels are set.”
“The dissent was short-lived but it showed intra-party fractures on tariffs, the economic effects of which threaten to become a central issue in next year’s mid-term elections.”
The Department of Justice has removed a study showing that white supremacist and far-right violence continues to outpace all other types of terrorism and domestic violent extremism in the United States, 404 Media reports.
“Thousands of protesters poured into central London on Wednesday to demonstrate against President Trump, a contrast to his red-carpet reception from royalty and political leaders during his carefully choreographed visit to Britain,” the New York Times reports.
Bloomberg: “As Trump arrived in London, protests threatened to encroach on the ceremonies.”
Wired: “In the immediate aftermath of Charlie Kirk’s killing, Donald Trump’s advisors were sure who was to blame. That law enforcement says they were wrong didn’t, and doesn’t, much seem to matter.”
“I truly believe that if these parties cannot come back — and they have basically a business model that’s based on hatred and fear. It’s not who we are as Americans. The country is ready for something different, and I think an independent American party bringing both of the center left and center right back together because the extremes are where they are.”
— Former Sen. Joe Manchin (I), interviewed by CNN, on whether he’ll run for president in 2028.
Sen. Adam Schiff (D-CA) “is reintroducing what he calls landmark pro-democracy legislation on Wednesday — but with notable updates aimed at directly addressing activity from the White House over the past eight months of Trump’s second term,” ABC News reports.
“Updates include expanding limits on pardon power, new provisions regarding the dismissal of criminal prosecutions, strengthening congressional subpoena enforcement and asserting lawmakers’ power of the purse and protecting whistleblowers.”
“The bill also would create an inspector general to oversee the Executive Office of the President.”
A new focus group of Latino Trump voters conducted by The Bulwark found “every single one of the seven participants said they regretted voting for Donald Trump.”
“The participants said they were angry over the state of the economy and frustrated by Trump’s handling of immigration and deportations. Asked to give the president a letter grade for his term thus far, six gave him D’s and one gave an F.”
But a big warning for Democrats: “While every single member of the focus group said they regretted their vote, none said they would back Kamala Harris in a hypothetical election rerun. Instead, they all said they would support a third party candidate or stay home.”
The widow of Alexei Navalny said that two independent labs have found that her husband was poisoned shortly before his death in a Russian prison, the AP reports.
Speaker Mike Johnson accused Democrats of inserting “partisan political preferences” into the government funding fight, and said they are risking a shutdown if they don’t drop their demands, CNBC reports.
Said Johnson: “It doesn’t make any sense, and they’re going to lose that battle.”
He added: “I don’t think that’s going to work. If the government is shut down because they make that their last stand, it will solely be blamed on Democrats.”
“Hate speech does not exist legally in America. There’s ugly speech. There’s gross speech. There’s evil speech. And ALL of it is protected by the First Amendment.”
— Charlie Kirk, on X, on May 2, 2024.
“Now, there’s a lot that’s going to need to be repaired after this administration. But the most important thing to the United States is that we’re able to turn down the temperature, to make sure that neighbors aren’t yelling at neighbors anymore, to come back together as Americans, to live out that pledge of allegiance, where we pledge that we’re not just one nation under God, but the next word is indivisible. We’ve got a lot of healing to do.”
— Gov. Andy Beshear (D), interviewed by CNN, on whether he’ll run for president in 2028.
“President Donald Trump’s onslaught against the Federal Reserve, and his installation of a top lieutenant on the central bank’s board, have made the Fed’s interest rate decision Wednesday one of the most politically charged ever,” Politico reports.
“On the one hand, the outcome — a small rate cut — is unlikely to be affected by either the addition of White House chief economist Stephen Miran or the continued presence of Lisa Cook, whom Trump is trying to oust from the board. But the vote could be a lot messier than usual at the consensus-driven central bank as Fed officials grapple with two problems they can’t fight simultaneously — a weakening job market and rising prices.”
“Ben & Jerry’s co-founder Jerry Greenfield is leaving the ice cream brand after 47 years, saying that the independence it once had to speak up on social issues has been stifled by parent company Unilever,” ABC News reports.
Taegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.
Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.
Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.
Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.
Goddard is the owner of Goddard Media LLC.
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