DESANTIS, HALEY TOWN HALLS
Iowa’s Jan. 15 GOP caucus is now just 10 days away. Last night, voters in the Hawkeye State had a chance to compare the two top non-Trumps in a pair of CNN town halls.
The two events opened with near-identical questions, about as close to a controlled scientific experiment as you’ll get on the visible side of the media.
They were asked similar questions about a shooting at a high school in Perry, Iowa, that has left one student dead and injured five.
Both politicians struck familiar Republican notes, shying away from talk of more gun control and focusing instead on mental illness.
Haley said schools should have a dedicated mental health counselor “that does nothing but look to see which kids may be in crisis.” She referred somewhat confusingly to “the cancer that is mental health.”
While both candidates faced pushback on gun control from the moderators, it was DeSantis who had a tougher time of it. He was repeatedly pressed on whether he backed the elimination of a three-day waiting period for certain firearms purchases in his state.
The governor repeatedly responded by saying background checks “should be instant.” Not quite a dodge, but it sounded like one at home.
A scientific (or semi-scientific) observer might wonder about the preferences at CNN, a network unpopular with many American conservatives but perhaps more popular among voters desperate to avoid a second Trump presidency.
“You’re allowed to register right up until caucus night, right?” Haley town hall host Erin Burnett said after introducing a questioner who had voted for Democrat Joe Biden in 2020.
The town halls come amid a flurry of visits to Iowa, at least by most candidates.
Trump, the frontrunner locally and in national polls, is swinging through the Hawkeye State, visiting Sioux Center and Mason City on Jan. 5 and both Newton and Clinton on Jan. 6. He’ll rally his supporters in other parts of Iowa on Jan. 13 and Jan. 14.
The same is true of DeSantis, who will be in Cedar Rapids, Ankeny, and other Iowan communities on Jan. 5 and Jan. 6. Haley, meanwhile, will be in Warren County, Johnson County, and Scott County, at events branded, “Pick Nikki.”
Entrepreneur Vivek Ramaswamy, who just visited all 99 of Iowa’s twice over, has criticized CNN for its handling of his own town hall on their network in December and for excluding him from its upcoming Jan. 10 candidate debate, which will pit Haley against DeSantis.
Trump isn’t going to break his streak of shunning debates this cycle. Instead, he’ll compete with a town hall of his own on a rival network, Fox News.
Former New Jersey Gov. Chris Christie, who also failed to make CNN’s cut, doesn’t seem to have his sights trained on Iowa at all. As of late Jan. 4, his campaign’s “Events” page lists just two events, both in New Hampshire.
Former Arkansas Gov. Asa Hutchinson, still in the race despite failing to make almost all the debates so far, held a virtual town hall with Dakota News Now in northwest Iowa.
—Nathan Worcester
US ECONOMY IN 2024
In 2023, the U.S. economy faced recession concerns, banking turmoil, and emergency measures by the Federal Reserve, ultimately defying fears and exceeding expectations with a 4.9 percent growth in the third quarter.
Currently, there’s growing talk about the prospect of a “soft landing” in 2024. Nevertheless, economists remain cautious, with many expecting a bumpy ride ahead due to the lingering impact of tight monetary policy over the past two years.
The full impacts of the Fed’s monetary policy tightening are yet to be seen, and there are big issues in the commercial real estate sector that could trigger another regional banking sector crisis, according to Desmond Lachman, a senior fellow at the American Enterprise Institute.
Jamie Dimon, CEO of JPMorgan Chase, also cautioned Wall Street not to fall for robust economic growth in November. He described the U.S. economy as being on a “sugar high” from stimulus money handed out during the pandemic and the Fed’s quantitative easing.
Many analysts say that the upcoming election is also expected to be a significant source of uncertainty and anxiety for the economy.
However, there is a glimmer of hope, with the possibility that inflation could further decline in 2024, lifting some of the financial pressures faced by Americans.
Worries regarding potential energy market disruptions arising from tensions in the Red Sea have caused recent spikes in oil prices. However, increased U.S. production and weakening demand in China are expected to exert downward pressure on oil markets.
Real prices will decline, and some areas of the goods market are deflationary, says Nancy Tengler, CEO of Laffer Tengler Investments, which will help the average American’s pocketbook.
The Fed will be in the spotlight in 2024. During its final policy meeting of the year on Dec. 13, the Fed policymakers predicted three rate reductions for this year. This has initiated speculation and uncertainty on Wall Street about the timing of these potential cuts.
According to JPMorgan’s strategists, the Fed could begin cutting interest rates in the second half of 2024. They expect a gradual reduction in rates if inflation returns to normal levels while anticipating a faster pace of rate cuts in the event of a recession.
Stoyan Panayotov, founder of Babylon Wealth Management, argues that the Fed’s delaying rate cuts for too long will threaten the U.S. economy in 2024.
In addition, there is growing speculation among economic and political pundits about the possibility of the Fed altering its monetary policy to sway the outcome of the 2024 election.
Even if inflation falls and the Fed starts trimming rates, there is a widespread perception that interest rates will remain high for the foreseeable future, with many not expecting a return to near-zero levels seen following the 2008 financial crisis anytime soon.
Artificially low interest rates tend to stoke bubbles in asset prices, says Greg McBride, chief financial analyst at Bankrate. But he also admits that interest rates that are too high for too long will derail economic growth and result in high unemployment.
Therefore, as inflation pressures ease, the Fed will trim interest rates to prevent further economic slowing, he adds.
Hence, the central bank’s decisions in 2024 are poised to generate extensive speculation and discussions throughout the year.
—Emel Akan
GOP MEMBERS ADD LEVERAGE TO BORDER DEMANDS
Some House Republicans have hinted at shutting down the government unless President Joe Biden takes executive action to secure the southern border.
Rep. Jim Jordan (R-Ohio) told reporters on Jan. 3 in Eagle Pass, Texas, that Congress should add this sentence to “must-pass” legislation if Biden doesn’t act: “No money can be used to process or release into the country any new migrants.”
What is “must-pass” legislation? The 12 statutorily required spending bills come to mind. As a reminder, four of them expire on Jan. 19, and eight more on Feb. 2.
Rep. Beth Van Duyne (R-Texas) made the threat more explicit, saying: “None of us want to shut down the government. But we all recognize the fact that every single penny that we are giving to Homeland Security at this point is not being used to secure our border, is not being used to increase our national security, but it’s doing the exact opposite.”
Earlier in the day, five of the eight members who voted to oust former speaker Kevin McCarthy (R-Calif.) told a reporter: “Shut the border down, or we’ll shut the government down. We control the money.”
Speaker Mike Johnson (R-La.) kept it low-key, sticking with his previous statement that the House will not approve additional military aid for Ukraine until the Senate adopts H.R. 2, the Secure the Border Act.
Reinstatement of the Remain in Mexico policy is a must-have for Rep. Dan Meuser (R-Pa.), along with changes to the process for seeking asylum. Other provisions are “negotiable,” Muesner told The Epoch Times.
“We are not going to ... deal with any supplemental [spending], and I don’t even want to deal with any continuing resolution unless we close the border first,” Meuser said.
—Lawrence Wilson
WHAT’S HAPPENING
- Biden speaks in Valley Forge, Pennsylvania, to mark the third anniversary of the unrest in and near the Capitol on Jan. 6, 2021.
- Trump rallies supporters in Sioux Center and Mason City in Iowa. Haley and DeSantis appear elsewhere in the state.
- The Department of Labor releases the jobs report for December.
BOOKMARKS
Trump is way ahead of his Republican rivals for the 2024 nomination. It’s not over ‘till it’s over—but, all the same, Trump’s seemingly unstoppable rise is only adding to speculation about who he might choose as a running mate.
The Epoch Times’ Janice Hisle walks us through 14 possible choices, ranging from Sen. Tim Scott (R-S.C.) to wildcards such as journalist Tucker Carlson.
Many speculate that Trump will pick a woman. One rumored candidate, South Dakota Gov. Kristi Noem, has taken on another possible choice, Nikki Haley. The Epoch Times’ Nathan Worcester has more from the ground in Iowa.
Some indicators don’t look good for Biden ahead of 2024. The Daily Mail reports that support for Biden from young female voters, a key Democratic bloc, is collapsing, at least according to their own survey.
And Politico describes a letter from anonymous Biden reelection staffers calling for him to push for a ceasefire in the Israel-Hamas conflict—the latest of many indications that war in the Middle East is a Faultline in Democrats’ fragile coalition.
But it’s not like everything is coming up Trump. In addition to facing lawsuits, criminal charges, and attempts to kick him off various states’ ballots, the former president is now contending with allegations he received millions from foreign governments while in office. The New York Times details the claims from House Democrats, which concern money that flowed to Trump’s hotels and other properties.
But Kimberly Benza, a Trump Organization spokesperson, told The Epoch Times via email that such claims were ridiculous.
“That narrative is insane, especially given there is no President in United States history who was tougher on China than Donald Trump… a President who introduced billions and billions of dollars’ worth of tariffs on their goods and services,” she said.
Sen. Tom Cotton (R-Ark.), apparently responding to the report, posted on X: “Dems are outraged that foreigners used Trump’s popular and open-to-the-public clubs, but A-OK with foreign interests paying millions to buy influence and access to Joe Biden through his degenerate, coke-addled son.
Cotton has been in the news too. He just endorsed Trump’s bid to be the 47th president, outlining the reasons for his support in comments to Fox News Digital.
—Nathan Worcester
