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Welcome to The Hill’s Business & Economy newsletter
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Business & Economy
Business & Economy
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The Big Story
Democrats warn Harris to ready on economy messaging
Democrats are urging Vice President Harris to solidify her economic message before she is tied to a narrative that plaguedPresident Biden while he was the nominee.
The economy is gaining in urgency as an issue as it nears an inflection point following a period of interest rate hikes and quantitative tightening undertaken by the Federal Reserve in response to elevated postpandemic inflation.
Prior to Biden’s withdrawal from the race last month, a string of polls indicated Trump was winning on the key campaign issue. The surveys concluded that voters trusted Trump on economic issues more than they trusted Biden.
But polls taken after Biden dropped out have also shown Harris narrowing the gap with Trump on the overall handling of the economy.
“The big question is, ‘Can you win the message war there? Can you convince the hearts and minds, and win the conversation on what the future looks like?,’” said Joel Payne, a Democratic strategist.
“Obviously Republicans traditionally have an advantage on this. But while you’re litigating the last three years, you need to make sure you’re putting it into context about, “Who do you trust in the future” on the economy.
At the moment, Harris is “getting a free pass” when it comes to the economy and other top policy issues, one major Democratic donor said. “But they need to be ready to have a solid economic argument at their fingertips,” the donor cautioned. “Biden struggled to articulate that message.”
The Hill’s Amie Parnes and Tobias Burns have more here.
Welcome to The Hill’s Business & Economy newsletter, we’re Aris Folley and Taylor Giorno — covering the intersection of Wall Street and Pennsylvania Avenue.
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Essential Reads
Key business and economic news with implications this week and beyond:
VA budget shortfall could deepen 2025 funding headaches
A $12 billion shortfall facing the Department of Veterans Affairs (VA) could further complicate an already heated partisan debate over how to fund the government for 2025.
Full Story
Biden adviser touts Fed independence as Trump seeks influence
White House Council of Economic Advisers Chair Jared Bernstein is emphasizing the “importance of central bank independence” as former President Trump calls for more influence over the Federal Reserve.
Full Story
Harris-Walz campaign adds camo beer holders after hats’ success
Vice President Harris and her running mate, Minnesota Gov. Tim Walz (D), are hoping to cash in on the success from their camo hat merchandise by releasing similar beer can holders.
Full Story
The Ticker
Upcoming news themes and events we’re watching:
The July print of the consumer price index, which measures monthly and annual changes in inflation, is slated to come out next Wednesday at 8:30 a.m. ET.
In Other News
Branch out with more stories from the day:
Wall Street is ending a wild week nearly where it began. More tests loom next week
NEW YORK (AP) — Stocks are closing a wild, whipsaw week for Wall Street with modest gains. The S&P …
Full Story
Good to Know
Business and economic news we’ve flagged from other outlets:
Markets saw a massive shift this week. Here’s what happened (CNN)
Trump’s Tax Plan Could Add Trillions in Debt. Harris’s Is a Mystery. (The New York Times)
The Government Spends Millions to Open Grocery Stores in Food Deserts. The Real Test Is Their Survival. (ProPublica)
What Others are Reading
Top stories on The Hill right now:
5 takeaways from Trump’s Mar-a-Lago news conference
Former President Trump tried to seize back the headlines and curb Vice President Harris’s election momentum Thursday with a long and characteristically rambling news conference at his Mar-a-Lago estate in Florida. Read more
Trump faces questions about getting outworked by Harris
Since the Republican National Convention concluded July 18, former President Trump has held five campaign rallies. Read more
What People Think
Opinions related to business and economic issues submitted to The Hill:
Weakening economy and volatile markets open door for Donald Trump
5 ways to improve the stability of the financial system
You’re all caught up. See you Monday!
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