Washington Update - August 19, 2024

Billy Moore    Dc2

Monday opens the Democratic National Convention, featuring a cast of former and would-be Democratic presidents who will celebrate party accomplishments, and more importantly tell the Kamala Harris story.

Except for limited impressions about the border and abortion rights, voters don’t know much about where Vice President Harris came from, what she has done or what she plans. The convention’s goal is to fill in the blanks by telling her personal history, how it motivates and equips her to lead. Harris is not a blank slate with voters, but her identity is mostly amorphous. The convention will underscore her credentials for the presidency and the generational change she represents, comparing them unfavorably with the Republican nominee former President Donald Trump. 

That the convention presents an opportunity for Harris to better define herself is a stunning failure by Trump and his campaign. For nearly a month, the Republicans have had the chance to fill in the blanks for Harris but have only succeeded in calling her names and questioning her racial identity, neither of which help Trump with swing voters. The opportunity missed highlights the difficulty Trump and his campaign has had adjusting to the departure of President Joe Biden from the race.

In the month leading into the convention, polls have shown Harris close the gap with Trump nationally and in swing states and a sharp rise in Democratic enthusiasm for voting up and down the ballot. Democrats will probably win a small boost in support coming out of the convention and leading into the September presidential debate, but they also know –especially this year – how quickly the dynamic can change.

Economic data including growth, employment, consumer spending, sales and inflation paint an optimistic future that suggests near certitude that the Federal Reserve will reduce interest rates by one-quarter percent in September.