Soft and america has beaten back the unprecedented economic challenges of the global pandemic and the ensuing disruption to the economy. It is proof that the biden economic recovery has been nothing short of miraculous. Especially given the mess he inherited from trump and the u. S. Outperformed every other country on earth. Trump like so many republicans before him has enjoyed a pulling advantage with voters over the economy. That may be changing. Multiple polls in recent weeks suggesting harris is closing the gap and possibly even leading trump on economic issues. Harris has been helped by trumps inability to feign caring about the expenses of americans as he proved earlier this month with that rambling answer to that direct question in New York. It was Word Salad but with one under noticed but toxic ingredient that deserves more attention. If you take it in november, can you commit to making childcare affordable and if so what specific legislation will you advance . Childcare is chi
It is just coming in right now. The federal reserve announced half a point. That was not the most expected. 48 days to the election, great news for the economy. Critics said it could not happen, but our policies a little policies are lowering costs and creating jobs. As a republican nominee plans to raise your grocery prices. How can a family of four that, like cheerios? i haven t seen cheerios in a long time. And nancy pelosi on the state of the race and the maga threats in the house. And growing calls for center in the senate as a hate crime hearing flies off the rails. You do not support hamas. I oppose you should hide your head in a bag. When all in starts right now. Good evening from new york. I am chris hayes. We are so back. This afternoon federal reserve chair jerome powell took the stage to announce the feds first cut in interest rates since 2020 and the beginning of the pandemic recession and it was a big one. A half percent interest rate reduction to stimulate borrowing and
A general election. The backdrop a flat lining Economy Millions struggling with the cost of living and polling indicating the Conservative Party is lagging far behind the opposition. Not to mention Financial Markets on edge for anything that might worsen the uks finances. The memory of Prime Minister liz truss s disastrous Tax Cutting Budget no doubt not far from mr hunts mind. So lets remind ourselves what he came up with. The rate of National Insurance paid by employees and the self employed, will be cut again by 2 pence in the pound. That comes on top of an earlier 2p cut mr hunt announced in the autumn. In april, full Child Benefits will be paid to households, where the highest earning parent is getting up to £60,000. The current limit is £50,000. And the non dom tax break for wealthy uk residents whose permanent home is overseas, is to be scrapped raising £2. 7 billion a year for the government. That announcement is highly controversial as it was a key pillar of labour policy.
Traders were also encouraged by new Inflation Data forjanuary that showed the smallest increase in goods and Services Prices for three years. That has added to bets that the Federal Reserve is on track to start cutting Interest Rates injune. Our north America Business correspondent Erin Delmore Reports from new york. All three of the major us Stock Indexes closed out february with a bang. The Tech Heavy Nasdaq Hit an all time high and it is the first time we have been able to say that since november 2021. Another new high for the s p 500. Both indexers enjoyed their best february high for the s p 500. Both indexers enjoyed their best february since 2015. The Dowjones Industrial Average for its part was up as well. That makes february the fourth straight month in the green for wall street and the Leap Day Boost was helped by some new Inflation Data. Well, the market today is reacting to a favourable continuation of inflation coming down in a trend towards the Federal Reserve s target.
Or is the rot here simply too deep . Its very depressing. Its very concerning. Our country is in a serious dark place. Stage 4 Load Shedding will continue to be implemented until further notice. It says that stage 6 will be implemented at 8pm tonight until 5am. How did it come to this . South africa, the continents great economic powerhouse, is in deep trouble. Long daily power cuts injohannesburg and across the country. Dawn, and the Traffic Lights are still not working. This is alexandra township, a poor neighbourhood on the edge ofjohannesburg. Every day here, the power goes out, sometimes for four hours, sometimes for eight or more. Officially, its called Load Shedding which sounds almost helpful, almost pleasant but the truth is that these power cuts are having a devastating impact in a country with a stagnant economy and soaring unemployment. And its particularly in poor neighbourhoods like this one that the effects are being felt the most. Suzeke mousa has run this bar for 25 ye