Live updates: NDAA comes to House floor; Federal Reserve expected to cut rates

The next Federal Reserve chair will face the challenge of gaining the confidence of President Trump while also appealing to Wall Street, as highlighted in the latest WSJ Politics newsletter. This dual obligation underscores the intricate balance required in U.S. economic leadership.

President Trump has claimed that there is no affordability crisis, a statement that contrasts sharply with the experiences of patrons at meal and pantry programs in Los Angeles, who report increasing difficulty in meeting their basic needs. This disconnect highlights the growing economic pressures faced by many Americans.

The Federal Reserve is anticipated to announce a cut in interest rates for the third time this year during its upcoming meeting. This decision comes amid ongoing economic uncertainty and inflation concerns, marking a significant moment for the central bank as it navigates a challenging financial landscape.

President Trump recently emphasized the economy in a speech aimed at addressing voter concerns about affordability, labeling the Democrats' focus on this issue as a hoax. This marks the beginning of a series of speeches intended to connect with constituents on economic matters.

Eileen Higgins has made history by becoming the first Democrat to win the Miami mayor's office in nearly 30 years, defeating Republican Emilio Gonzalez, who was endorsed by former President Trump. This victory is part of a broader trend of electoral successes for Democrats in recent elections.

Senate Democrats, led by Senators Jeff Merkley and Catherine Cortez Masto, have introduced legislation aimed at preventing President Trump from placing his image on a new dollar coin. This move reflects ongoing tensions between the Democratic Party and Trump, particularly as they seek to assert their influence in the face of his controversial presidency.

The U.S. Supreme Court appears ready to strike down Watergate-era campaign finance limits, signaling a potential ruling favoring Republicans and former President Trump. This decision could enable political parties to leverage substantial financial support from wealthy donors, fundamentally altering the landscape of campaign financing in the U.S.

Rep. Madeleine Dean (D-Pa.) discussed the Democratic Party's evolving economic messaging during an appearance on Meet the Press NOW, highlighting their recent improvements as President Trump prepares to address affordability issues in Pennsylvania.