NBC Nightly News with Tom Llamas - Friday, August 23, 2024

Episode Date: August 24, 2024

RFK Jr. suspends his presidential race; Vice President Kamala Harris accepts historic Democratic nomination; Fed chair Powell hints at interest rate cuts; and more on tonight’s broadcast.

Tonight, the major shakeup in the race for the White House. Robert F. Kennedy Jr. suspending his independent campaign and endorsing Donald Trump. RFK Jr. coming before the cameras telling supporters he no longer believes he has a path to victory. Why, he says, he's throwing his support behind Mr. Trump. And would he ever rule in a potential new Trump administration? And members of the Kennedy family today speaking out against him. That announcement coming on the heels of that historic night at the DNC. Kamala Harris, the first woman of color to accept a major party's nomination.

The vice president promising a new way forward and attacking her rival Donald Trump as an unserious man. And now the race moving into a whole new phase. Also tonight, the Fed finally signaling it will cut rates down from a 23-year high. What it means for your money. The new fallout for multiple Secret Service agents after the assassination attempt on Donald Trump. The deadly house explosion rocking a neighborhood near Kansas City. The investigation tonight, and the Team USA Paralympian, who's chasing much more than gold at the Paris Games.

This is NBC Nightly News with Lester Holt. Good evening and welcome on this, the first day of the rest of the presidential campaign. The last of the celebratory balloons have by now popped at the United Center in Chicago, where an energized Kamala Harris closed out the Democratic National Convention with a speech that revved up the party faithful and drew a sharp distinction between herself and Donald Trump. The convention launching her barely month-old candidacy straight into the thick of the race, the fall sprint to Election Day in November. But tonight, the playing field already changing before our eyes with the announcement by independent candidate Robert Kennedy Jr. that he is suspending his campaign and is endorsing former President

Trump's election bid, saying, I no longer believe that I have a realistic path of electoral victory. It's where we start tonight with Dasha Burns. Robert F. Kennedy Jr. Tonight, in a move likely to help former President Trump, independent candidate Robert Kennedy Jr. suspending his campaign. I promised the American people that I would withdraw from the race if I became a spoiler. And announcing he will now endorse Mr. Trump. I was surprised to discover that we are aligned on many key issues. Kennedy suggesting Trump offered to enlist him in his administration. He originally launched his White House bid as a Democrat, then becoming an independent, saying his principles, including protecting free speech,

led him to today's decision. Staying on the ballot in the battleground states, I would likely hand the election over to the Democrats with whom I disagree on the most existential issues. Like today, former President Trump thanking his opponent turned ally. We just had a very nice endorsement from RFK Jr. He's a great guy, guy respected by everybody it's a major shift from the harsh words he had for him just a few months ago rfk jr is a democrat plant a radical left liberal who's been put in place in order to help crooked joe biden kennedy a member of a storied family in democratic politics now endorsing the republican nominee is already sparking criticism from within his own family. JFK's grandson, Jack Schlossberg, posting RFK is for sale, works for Trump,

bedfellows and loving it. Kamala Harris is for the people. While Kennedy saying his wife, actress Cheryl Hines, is very uncomfortable with his endorsement. But supporters of RFK Jr. today telling us they'll follow his move to back Trump. I have no choice but to. I will, yeah, because I trust Bobby. And Kennedy's endorsement could be critical. Since Vice President Harris entered the race, Kennedy has lost ground, dropping from 9% support in July to 5% in August. There were recent NBC News poll finding Republicans view him favorably,

while independents and Democrats have a negative opinion. So his endorsement could give Trump a small boost that could make a big impact in a tight race. Trump and Kennedy donor Omid Malik helped broker conversations between the campaigns. The dynamics have just changed again. How have they changed now? Tremendously in the favor of President Trump. If you look at Bobby Kennedy, he's the most relevant third party candidate in over a generation. And Dasha, I know the Harris campaign is reacting to all this. What are they saying? Yeah, Lester, the Harris team putting out a statement today, not mentioning

Kennedy by name, but saying she's working to earn the support of all voters. Meanwhile, the Trump campaign not saying either way of Kennedy, would be a part of their administration. Lester. Dasha Burns, thank you. And this shakeup coming after Kamala Harris accepted her historic nomination at the Democratic National Convention. Harris's campaign now making an urgent push for swing voters

as she faces mounting pressure to get more specific on policy. Here's Gabe Gutierrez. Tonight, after an electric final night of the Democratic National Convention, and with just 74 days to go into the election, the race for the White House is entering a new phase. Vice President Harris trying to maintain momentum today after making history, becoming the first woman of color to speak these words for a major party. I accept your nomination to be president of the United States of America. But her acceptance speech focused instead on her history as the daughter of immigrants,

a Jamaican father, and an Indian mother. She taught us to never complain about injustice, but do something about it. Her great nieces teaching the audience how to pronounce her name. First you say comma like a common sentence. Later, the young girls looked on, this viral picture capturing the weight of the moment. I'm no stranger to unlikely journeys. With protests outside the convention this week, the vice president making pointed remarks about the Israel-Hamas war. Let me be clear. I will always stand up for Israel's right to defend itself. But also saying the impact on Gaza has been devastating. The scale of suffering is heartbreaking. Harris's speech light on policy specifics, but in a dramatic shift for Democrats, she's now trying to flip

the script on an issue where polls show Americans prefer former President Trump, immigration. Donald Trump believes a border deal would hurt his campaign. So he ordered his allies in Congress to kill the deal. While Trump argued the border security bill was not tough enough, Harris is now touting her record as a prosecutor. I fought against the cartels who traffic in guns and drugs and human beings who threaten the security of our border. While trying to diminish the former president. In many ways, Donald Trump is an unserious man. But the consequences of putting Donald Trump back in the White House are extremely serious. And railing against Republicans for limiting abortion rights.

Simply put, they are out of their minds. We trust women. We trust women. Still, her opponents are slamming the remarks. Just a few minutes after she spoke, Trump accusing Harris of running away from her record as vice president. Why didn't she do the things that she's complaining about? She didn't do any of it.

She could have done it three and a half years ago. All right. So, Gabe, what is next for the Democratic ticket? Well, Lester, Vice President Harris just returned here to D.C. late today. No public events scheduled this weekend, but she and Governor Walz are expected to hit the campaign trail next week and will most likely barnstorm more battleground states around Labor Day, Lester. Gabe Gutierrez, thank you.

And with both conventions now in the history books, the focus now shifting to the sprint to Election Day. Peter Alexander is here. We really think of this as the official start of the campaign. Yeah, just a couple of weeks away from Labor Day, right? The Harris campaign, Lester, is really hoping to capitalize on the success of this convention that both of us are just back for in terms of momentum and money. Hundreds of millions of dollars they've raised over the course of the last several weeks here. But as this race heats up in particular, there are some significant challenges ahead. Many

undecided voters say they still want to hear Harris outline some more specific policy positions. Republicans, the Trump campaign in particular, have criticized her for having yet to sit down for an interview or a news conference since Joe Biden dropped out of this race last month. She has committed that she will do an interview before the end of this month. And of course, there's another major moment that's only two and a half weeks away. That is the debate between Harris and Trump. Will it be the only one the two do?

We know the impact of the first debate in this race. We are told by those close to Harris that she's already held one mock debate session. No question this is going into overtime now as we get to the last stretch. Thanks. We'll turn now to some long-awaited news from the Federal Reserve. Chair Jerome Powell signaling today the Fed will finally cut the latest step to pull off a so-called soft landing, taming inflation while avoiding triggering a recession. Brian Chong with what it means for your money.

Tonight, the clearest sign yet from Federal Reserve Chairman Jerome Powell that spenders will soon get a little help. The time has come for policy to adjust. Translation, get ready for lower interest rates. Americans have been paying high rates on everything from credit cards to car loans and mortgages. Chris Nunn in Louisville says he's feeling the squeeze of the roughly 30 percent interest rates on his six thousand dollars in credit card debt. Slightly lower rates will at least take some of the edge off. But even if it makes a dent, that's just going to help my monthly payments. That's not going to pay off the $6,000. Restaurant owner Journey Rain of Grits and Waffles says lower rates will

help her expand. With interest rates being lower, I see Grits and Waffles being in every major city. I mean, you know, being able to borrow money for a lower cost or even having credit cards with lower interest rates. The pace of price increases has slowed from the peak of 9% two years ago to 2.9% last month. Now, the Fed has a new worry, that its high interest rates could potentially put people out of jobs. We do not seek or welcome further cooling in labor market conditions. Experts say rates will come down, but don't expect to see the rock bottom rates of 2020. They're going to drift down, but they're not going to drop like a rock.

That's absolutely right. So when the Fed does begin cutting rates, they're going to be cutting them incrementally and slowly and cautiously. Long awaited reprieve for an economy that remains top of mind. And Brian Powell made these comments today, but these rate cuts haven't kicked in. When will that happen? Yeah, it's important to remember the Fed didn't actually do anything today on rates. They're just teeing up what they could do as early as their next scheduled meeting, which would be on September 18th. The question is going to be the size of that interest rate cut. Could they move by the standard quarter

percentage point move that they usually do? Or if the economy needs it, go by a more aggressive half a percentage point move for what it's worth on the mortgage markets. We've already seen rates fall on just the expectation that the Fed is going to cut interest rates. The 30-year fixed rate on average has already fallen by almost a full percentage point just since May. That's welcome news, I'm sure, for a lot of prospective homebuyers. Okay, Brian Chung, thanks. There is new fallout tonight for the Secret Service more than a month after the assassination attempt on former President Trump. Julia Ainslie joins us now. And Julia, you've been reporting on this. What are you finding out? Multiple Secret Service agents have been put on leave from their duties for their role in the

security preparation in response to former President Trump's July 13th assassination attempt at a rally in Butler, Pennsylvania, according to a source familiar with the internal investigation. One of the agents put on leave is in charge of the Pittsburgh field office that oversaw planning and coordination with local law enforcement ahead of the event. A spokesperson for the agency said in a statement, the Secret Service holds our personnel to the highest professional standards, and any identified and substantiated violations of policy will be investigated for potential disciplinary action.

Lester. Julia Ainsley, thank you. In Missouri, a deadly house explosion rocking a neighborhood outside Kansas City. The blast caught on doorbell cam and blowing the doors open on neighbors' homes. According to officials, the house completely leveled. The bodies of two people were found inside. The cause is under investigation. We're back now with the price you pay and the critical financial aid delays for college students. Christine Romans now on the Department of Education's struggle to get it right. Across the country, millions of college students are unpacking and moving in, many fresh off a financial aid process marred by delays and glitches. What was supposed to be a simplification of the critical free application for federal student aid, the FAFSA, was hobbled

by technical errors, according to the Department of Education. Without knowing how much aid they would receive, it made it difficult for families to pick a school. Christy Childs faced delays last year for her two kids in college and now worries about her high school senior, Hannah Leis, who is banking on a band scholarship for next year. I sure hope that they work the bugs out and have it ready to make it actually user-friendly and to have results quickly. Even if it only covers partial tuition, we still have dorms and books and meals and all of those things to make sure that we have covered. And you need the FAFSA information to get to the university so they can make an offer and you can see what is the best for your family financially.

Exactly. It's the only way that our family is going to be able to afford to put another another child in college. But the new FAFSA site still isn't ready. The Department of Education has delayed the October 1 rollout until December while it tests the new version. Secretary of Education Miguel Cardona said the FAFSA hadn't been updated in 40 years and acknowledges the challenges. He calls fixing it his top priority. How confident are you that this year it's going to be right? We got to do better and we're going to do better. It's going to be simpler, 20 minutes, 15, 20 minutes. So I am confident that we're going to do it. To be ready, Cardona advises families create an FSA ID for emails and alerts and visit studentaid.gov for updates on the financial aid process. Lester?

Christine, thank you. When we come back, Quest for Gold, my conversation with the teenage track and field phenom getting ready to shine at the Paralympic Games. Finally tonight, with the Paralympic Games less than a week away, I spoke with a history-making track and field phenom from Los Angeles who's on a quest for gold. Remember this face because the teenager behind it is resetting the boundaries of sports. I never believe anything is off the table. I am a first-hand example of the power of sports when you have a physical disability, especially. Ezra Freck was born with congenital limb differences. I was born with one finger on my left hand, and I had a lower left leg that was curved up towards my waist. At three,

he had his left leg amputated at the knee, but none of it stopped him from pursuing his passion, track and field. I don't feel fear. I don't feel nerves. I don't even get nervous before I compete. A determination that led the 19-year-old to this moment. So the plan is to walk away from the Paris Paralympics with three medals, at least one of them gold. In Paris, Frack will take part in his second Paralympic Games after just missing a medal in the high jump in Tokyo. Have you been thinking about Paris ever since Japan? Absolutely. Absolutely. My mind was constantly fixated on Paris. The second I walked off the track in Tokyo, I mean, I walked off the

track in fifth place. I was about one inch away from the bronze medal, and it was quite devastating. But then the second I walked off the track, I thought, I'll get the gold in Paris. That was my mentality immediately shifted to the next games. Freck is competing in the 100 meter long jump and the high jump where he is chasing his own world record. And I read that you're one of those people that verbalizes your goals. You spell them out. Yes. Yeah. I think that's important, right? I think most people fail to vocalize their goals because they're afraid they're not going to accomplish them. And for me, not vocalizing my goals is a first sign of a little bit of insecurity. I think in order to accomplish something, you must believe you're capable first.

That's the first step to accomplishing greatness. Meantime, Ezra Freck and his family are already championing others through their non-profit Angel City Sports in Los Angeles, providing access to adaptive sports for people with disabilities. This is a really premature question, but I'll ask it anyway. What would you want your legacy to be? My goal is to go down as the greatest Paralympian of all time, but I don't want to reach greatness in the sport of track and field for superficial reasons. I want to use track and field. I want to use the Paralympics, this platform, as a catalyst to normalize disability and be an example of what is possible as an amputee. Something Ezra Freck is doing with every stride he takes. And good luck

to anyone trying to keep up with him. Tune into the opening ceremony of the Paris Paralympics Wednesday at 1 p.m. Eastern on USA and Peacock. That's nightly news. Thank you for watching. I'm Lester Holt. Please take care of yourself and each other. Good night.