The Daily Signal - UN Demands Israel Withdrawal, Millions of Illegals Expected to Vote, Federal Reserve Cuts Interest Rates | Sept. 18

Starting point is 00:00:01 The UN demanded that Israel withdraw from Gaza. I'm Elizabeth Mitchell, and this is the Daily Signal top news for Wednesday, September 18th. An expert says a United Nations resolution calling for Israel to withdraw from the West Bank within six months will cause chaos and violence in the Middle East. The UN General Assembly voted Wednesday to approve a resolution demanding that Israel unilatery withdraw its unlawful presence, quote unquote, in Gaza and the West Bank within a year. The resolution also calls for sanctions in an arms embargo against the country. According to Andrew Tucker, who is Executive Director of the Hague Initiative for International Cooperation,

Starting point is 00:00:51 this is a very important and potentially catastrophic decision. Tucker said it's going to lead to chaos and more violence. Tucker does not expect Israel to be willing to leave the territories as demanded in the resolution. Because Hamas-run Gaza is already on Israel's doorstep, Tucker said the Jewish state will not allow another Gaza in the West Bank. More than one in four Democrats believe America would be better off if former president Donald Trump had been assassinated, according to a poll released Wednesday. Veteran pollster Scott Rasmussen's National Survey of a thousand registered voters

Starting point is 00:01:27 asked Americans about Sunday's second assassination attempt on Trump. It included this question. While it is always difficult to wish ill on another human being, would America be better off if Donald Trump had been killed last weekend? The polls cross-tabs revealed a starkly divided America with a sizable number of Democrats wishing harm on Trump, who has now survived two attempts on his life in the span of just over two months.

Starting point is 00:01:53 While 92% of Republicans say America would be worse off had Trump been killed, less than half of Democrats. 48% hold that same view. Another 28% of Democrats answered yes to the question that America would be better off. and 24% of Democrats said they were unsure. The Napolitan News Service poll was conducted Monday and Tuesday in the wake of the assassination

Starting point is 00:02:17 attempt at Trump's golf course in West Palm Beach, Florida. Trump blamed his Democrat opponent, Vice President Kamala Harris, for inciting violence against him. Experts say somewhere between 1.5 million and 2.7 million illegal immigrants are likely to cast a ballot in the 2024 elections. This is according to a Washington. Stand article by Ben Johnson. Carrie Talosco, Executive Director of Election Integrity Network and senior advisor to the only citizens vote coalition, told the Washington stand that a 2014 academic journal found that 6.4% of non-citizens voted in 2008.

Starting point is 00:02:55 She said there are about 24 million non-citizens in the U.S. right now. If they voted only at the same rate of 6.4% this year as they did in 2008, they would account for 1.5 million votes. The Federal Reserve announced today it is cutting interest rates by 0.5 percentage points. This is the Fed's first rate reduction since March of 2020. Economist at the Heritage Foundation, E.J. Antony is here to discuss. Will this decision succeed in lowering inflation? No, not at all. And that's really not even their aim right now. Their aim is actually to boost labor market conditions, which have softened considerably.

Starting point is 00:03:35 We got recent data, for example, showing that about a third of all the jobs initially estimated to have been added over a 12-month period never even existed, well over a million jobs. So the economy essentially is nowhere near as strong as we have been led to believe. Interesting. Now, how will this cut to the rates affect public perception of the Biden-Harris economy? Well, in terms of the immediate impact, you'll see a rally in equities, right? you'll see a boost to asset prices, but you're not going to have much of an impact in terms of consumer level interest rates. In other words, the rates that you're paying on things like your

Starting point is 00:04:13 credit card or your mortgage, there's just not enough time between now and the election, let's say, for those things to really trickle down and have much of an impact at the consumer level in terms of borrowing. The cut brings the central bank's benchmark rate to a range between 4.75% and 5%. This is a more aggressive approach than expected. Is that correct? Oh, absolutely. Yes. Although I'm not sure it was necessarily more aggressive than expected by the broader market. You did have somewhere about a 50% expectation that they were going to go big in terms of this rate cut. It is certainly much more aggressive than they should be. Frankly, they shouldn't even be cutting rates at all right now because we still have not killed inflation. And this is simply going

Starting point is 00:05:00 to put us back onto that roller coaster where we're now going to expect more inflation in 2025. How will this affect the stock market? Well, like I said, we're going to see a boost in equity. So you will see a stock market rally. How big it's going to be. There's some debate there. But it is certainly going to make it cheaper for investors to borrow, cheaper to invest on margin. So you will see a lot more buying and that'll help push prices up.

Starting point is 00:05:26 But again, in terms of the consumer, there's nothing indicating. that any of this is going to filter down and provide any kind of benefit for the average American. Will the Fed lower rates more in the future? It certainly seems like that that's what was indicated in the statement and that's also what was indicated by Chair Powell in the press conference following the rate cut decision. So unfortunately, again, we have not yet killed inflation. And the fact that we are now providing stimulus for more inflation is very, very, very troubling, and it's even more troubling that they intend to continue doing so. Very troubling,

Starting point is 00:06:05 indeed. Thank you so much for joining us and informing us on this subject. My pleasure. Thank you for having me. Thanks so much for listening to this episode of The Daily Signal, Top News Edition. If you haven't gotten the chance, be sure to listen to our morning show, where we interview lawmakers, experts, and conservative voices. In the morning, my colleague, Virginia Allen, will sit down with Sam Goodwin, who was imprisoned in Syria. That's sure. to be an interesting story. Also, make sure to subscribe to the Daily Signal wherever you get your podcasts and help us reach more listeners by leaving a five-star rating and review. Thank you so much for tuning in today. Have a lovely night. We'll be back with you in the morning with an interview.

Starting point is 00:06:47 The Daily Signal podcast is made possible because of listeners like you. Executive producers are Rob Bluey and Katrina Trinko. Hosts are Virginia Allen, Brian Gottstein, Tyler O'Neill, and Elizabeth Mitchell. Sound design by Lauren Evans, Mark Geiney, John Pop, and Joseph von Spakovsky. To learn more or support our work, please visit DailySignal.com.

The Daily Signal - UN Demands Israel Withdrawal, Millions of Illegals Expected to Vote, Federal Reserve Cuts Interest Rates | Sept. 18

There aren't comments yet for this episode. Click on any sentence in the transcript to leave a comment.