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Good morning. I'm Anna Palmer.

And I'm Jake Sherman.

And welcome to The Daily Punch, brought you by Punchable News.

It's Wednesday, August 9th,

2023. Let's get into the mix. Here are your Washington headlines of the day. Number one, a look at Biden

economics. Number two, conservatives lose in Ohio ballot measure and what that might mean for November.

And number three, young Democrats form a new group focused on state legislation.

All right, Jake, let's get into it. Brendan Peterson and Bres have a really interesting look this

morning on the complex picture of the U.S. economy. It has definitely been a cheery few months for the U.S.

Growth is solid. Inflation is down. But there is also some other murkiness happening as well.

Yeah, there's some flashing warning signs. Let's start with those. Moody's kicked off things with a high-profile set of bank

downgrades Monday. Ten regional banks are their credit ratings downgraded, and also some

large banks. Bank of New York Mellon, U.S. Bank, Truest Financial, State Street Corp, and Northern Trust

will face a formal review of their credit ratings. Those are big banks, very large banks,

hundreds of billions of dollars in assets. Now, there's also, I think a lot of people are starting,

and we've heard this, you and I have heard this, Anna, from some folks, but there are concerns about interest rate liability and asset

liability and also commercial real estate. I mean, this is a big, this is, I think,

...