Welcome back. Were live in the dnc in chicago. Ahead for us, the obamas on deck. The dnc prepares for a big night, too, with Prime Time speeches from the political power couple. Well have a preview. Plus, the dnc may be in chicago, but Kamala Harris is putting Wisconsin Front and center. Her plans for a rally at the very sight where Donald Trump got the republican nomination. And trump defends his personal attacks on harris as not an insult, just a fact. His new comments as he tries to seize back the spotlight. Our Nbc News reporters are following all the latest developments. We begin here in chicago with Mike Memoli and monica alba. Mike, give us a rundown of what were expecting to see tonight. You mentioned the obama, especially michelle, who we havent heard much from. Almost never. As we look at the full list, you see the importance of coalitions for the democratic party. Bernie sanders speaking, does he give harris the stamp of approval . Im sure he will. The first second gentleman
This low price you have seen was predicted and much of that has come from what we call the base effect. There has been upward pressure in Household Energy bills very much influenced by Ofcom Price caps, so as we look as those year on year numbers, you get what looks like a bit of an oddity but it was fully priced in and really what the market was expecting in terms of where that would come out for the Inflation Number. In would come out for the Inflation Number. ,. ,. , number. In terms of other things the market is expecting, number. In terms of other things the market is expecting, we number. In terms of other things the market is expecting, we have number. In terms of other things the | market is expecting, we have already had one cut in the cost of borrowing this year, that was the first since the recent inflationary crisis pushed up the cost of borrowing. Some saying this could lead the bank to cut rates again In September. What are your thoughts, expectations . What are your thou
Thank you for being with us today. Is there any doubt left in your mind with all these concerns and there are about the us heading to the recession That the Fed Will Cut Rates in september . It is recession That the Fed Will Cut Rates in september . Recession That the Fed Will Cut Rates in september . It is set up uuite rates in september . It is set up quite nicely rates in september . It is set up quite nicely for rates in september . It is set up quite nicely for the rates in september . It is set up quite nicely for the Fed Rates in september . It is set up quite nicely for the fed to rates in september . It is set up quite nicely for the fed to start | quite nicely for the fed to start using the cycle. The market is a saying, they are either going to get a 50 Basis Points of cuts. It is a Coin Flip between the two. As you pointed out, the Inflation Report really is a credence to this story. The fed themselves said the monetary policy, That they want to get closer to the neutral ra
Between the two right now. And as you pointed out, the Inflation Report really is accretive to this whole story here. And so the fed themselves had said that the Monetary Policy is tight, that they want to get closer to kind of that neutral rate. And theyre going to start that in september. And so whether or not they cut, you know, three quarters of a percent or a percent throughout the remainder of the year remains to be seen. But they will be data dependent. But this definitely sets it up with todays Inflation Report. Jeff, what do you make of the concerns that there are that the us could be heading into a recession . Do you see it as a risk or a likelihood . Well, i think its a risk out there, but i dont think its for certain at this point. And what you saw was the market was a little offsides. There was a lot of crowded positioning, and essentially the Bond Market is just waiting for another shoe to drop. And although were talking about inflation, the key metric that kind of set of
Do it. The legal lead starts now Kevin Mccarthy has a message for Donald Trump, size doesnt matter lead starts right now Donald Trump called out as he falsely accuses Kamala Harris and cheating by faking images of rally crowds. How harris is responding as her campaign tries to pivot policy. And the influence of Elon Musk in the 2024 president ial race. What a Brand New report reveals about the Billionaires Handson Plan to win over voters for trump plus a republican running to lead North Carolina State schools. Will voters tolerate her talk of a Military Coup on January 6 were asking the democrat running against her. After cnns kfile found the Video Welcome to the lead. Im Phil Mattingly in for jake tapper. We start today with our 2024 lead because one week from now, we will be live from chicago as the Democratic National Convention officially kicks off with i think its fair to say, a wildly different program than was planned, less than a month ago. Today, Vice President Kamala Harris i