How President Biden’s Inner Circle Kept His Signs of Aging Under Wraps

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 9 July 2024

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for July 9. Why did President Biden’s disastrous debate performance take many Democrats by surprise? Political reporter Andrew Restuccia explains the ways senior White House advisers tried to protect Biden’s image over the past year, as Democrats’ efforts to push the president off the ballot lose steam. Plus, a report from the Federal Trade Commission finds that pharmacy-benefit managers are raising costs, not easing them. Reporter Liz Essley Whyte explains. And the Federal Reserve’s Jerome Powell says his focus is shifting to the timing of interest-rate cuts. Francesca Fontana hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:15.7	Learn more in Anthropic.com slash team.
0:18.8	Democrats efforts to push Biden off the ballot are losing steam, and how the President's
0:27.4	inner circle concealed his struggles both in public and in private.
0:31.4	They have minimized opportunities for the president to speak to the media.
0:36.4	They have clipped his itinerary.
0:39.5	They have controlled essentially every element of his schedule and his interactions
0:44.7	both with the public and with donors. Plus Fed Chair Jerome Powell says
0:49.4	elevated inflation is not the only risk we face. It's Tuesday, July 9th. I'm Francesca Fontana for the Wall Street Journal.
0:57.0	This is the PM edition of What's News, the top headlines and business stories that move the world today.
1:03.0	In markets today, all eyes were on Federal Reserve Chair Jerome Powell as he started his two-day testimony before Congress.
1:15.0	Traders have been watching the Central Bank closely so far this year, looking for signs of interest rate cuts.
1:21.0	Powell suggested that he was focusing greater attention on when to cut interest rates.
1:25.0	The central bank is facing this trade-off between bringing inflation down and maintaining a solid labor market,
1:30.0	and the Fed officials are trying to balance these two risks.
1:34.0	If we loosen policy too late or too little,
1:38.0	we could hurt economic activity.
1:40.0	If we loosen policy too much or too soon, then we could undermine the progress on inflation.
	...

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