Trump in Cincinnati: From Dem debates to the Fed, what to expect
On the heels of the second round of Democratic presidential debates in Detroit this week, President Trump is headed to a campaign rally in Cincinnati on Thursday night.
In reaction to the debates, Trump took to Twitter to air a number of grievances with the perspectives he heard, which are likely to be featured during his rally on Thursday.
On Wednesday, he noted foreign countries were likely “drooling” over the prospect of getting to deal with one of the Democratic candidates rather than himself – which would allow them to “rip off our beloved USA like never before.”
He also sought to remind Americans about the booming U.S. economy, claiming the country has “records in almost every category,” from the stock market to the unemployment rate.
The economy has been a big focus throughout Trump’s recent speeches, where he has referred to stock market gains – the resulting impact on 401(k) accounts – and a 3.7 percent unemployment rate, which is hovering near multi-decade lows. More light will be shed on the economy when the Labor Department releases its July jobs report on Friday morning.
The president is also likely to tout a newly-approved budget deal, which he has called a big win for the U.S. military and veterans.
On Thursday, the Senate passed the two-year budget deal, which sent it to the desk of the president for final approval. The legislation lifts the debt ceiling and increases the U.S. budget.
Under the plan, military spending would increase to $738 billion per year in fiscal 2020, and more than $740 billion in the following year.
Trump may also seek to emphasize deep divisions within the Democratic Party, which have been a focus this week. From 2020 candidates’ stances on reforming the health care system to decriminalizing illegal immigration to overall attacks on more progressive candidates for being too radical, the party itself has given the president a lot of material he could choose to hammer home.
Another big business topic of the week? The Federal Reserve’s decision to cut interest rates for the first time since the start of the Great Recession.
After the decision on Wednesday, Trump said “Powell let us down” because the market wanted to hear that this was the beginning of a “lengthy and aggressive rate-cutting cycle.”
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He did say, however, that at least the Federal Reserve is ending quantitative tightening.
The rally is set to begin at 7 p.m. ET at U.S. Bank Arena.