President Joe Biden will formally announce his 2024 reelection campaign as soon as next week, three people briefed on the discussions said Thursday.
The people, who spoke on the condition of anonymity to discuss internal deliberations, said they were not aware that a final decision on timing had been made, but that Biden had been eyeing Tuesday, April 25, four years to the day since the Democrat entered the 2020 race. The upcoming announcement is expected to be in the form of a video released to supporters.
Biden, 80, has repeatedly said he intends to run for a second term but advisers say he has felt little need to jump into campaigning because he faces no significant opposition to his party's nomination.
It'll be a markedly different experience from four years ago, as when Biden was written off by much of the political establishment until he consolidated support as the candidate Democrats believed was best positioned to defeat then-President Donald Trump while the coronavirus pandemic raged. This time around, he will have to juggle the challenge of running for reelection while also running the country.
Biden in recent months has been focused on implementing the massive infrastructure, technology investment and climate laws passed during his first two years in office and drawing a sharp contrast with Republicans as Washington gears up for a fight over raising the nation’s borrowing limit. Aides believe those priorities will burnish his image ahead of his reelection campaign.
The president, already the oldest person ever elected the job, will also need to contend with voter concerns about his fitness for the job. He has brushed aside those concerns, telling voters to “watch me,” and aides say he plans to mount a robust campaign ahead of what they expect to be a close general election owing to the country's polarization, no matter who emerges as the GOP standard-bearer.
Biden has summoned top Democratic donors to Washington next week for what was expected to be a dinner with him and a strategy session with his chief political advisers.
The Washington Post first reported on the expected timing of the announcement.
Inflation remains hot as the January PPI has increased by 1 percent, twice what analysts had been expecting with a jump of 9.7 over the year. Beth Ann Bovino, the U.S. chief economist, for S&P Global Ratings, joined Cheddar News to discuss the rapid pace of inflation alongside higher wages, predicting the Federal Reserve will act quickly and forcefully this year. "They haven't changed their forecast, yet, that's gonna come out soon. But we expect that a March rate hike is basically pretty much baked in the cake," she said. "We think six rate hikes in total for 2022."
For black history month, Cheddar is highlighting black business leaders who are driving the need for representation forward. On February 10, the U.S. Chamber of Commerce hosted an event called 'Developing the Black-Owned Business Ecosystem.' The virtual event was organized under the lobbying group's two initiatives -- the Equality of Opportunity Initiative, and the Coalition to Back Black Businesses. The event highlighted the developments needed to develop more black-owned businesses in the U.S. Dr. Anthony Wilbon, Dean of the School of Business at Howard University, joined Cheddar News' Closing Bell to discuss his experience as a speaker at the event.
A newly declassified letter by senators Ron Wyden and Martin Heinrich claimed the CIA. has been conducting a Secret Surveillance Program which has been collecting a bulk of data from American citizens. The letter which was written in April of 2021 urges the CIA to come clean about the kind of data it collects and how many Americans have been impacted. According to these two senators, the program did not have the safeguards of congressional oversight.
Art Hogan, Chief Market Strategist at National Securities, joined Cheddar News' Closing Bell, where he says investors are taking a wait-and-see approach when it comes to the situation between Russia and the Ukraine and elaborates on the impact higher oil prices stemming from the conflict would have on the market.
Last week, Senators Ron Wyden of Oregon and Martin Heinrich of New Mexico, Democrats on the Senate Intelligence Committee, wrote a a letter airing concerns that the CIA is collecting the data of American citizens without their consent. The lawmakers fear that the program might be exploiting private data. Morgan Wright, the chief security advisor at cybersecurity firm SentinelOne, joined Cheddar News to discuss the ramifications of the letter. "We don't have all the dots in one place to connect them," said Wright, cautioning against jumping to conclusions.
Russian President Vladimir Putin and his Foreign Minister Sergey Lavrov said that diplomacy is still possible, while U.S. officials warn that an attack on Ukraine is imminent. Cheddar News speaks with James Astill, Washington bureau chief of The Economist on the latest developments in Eastern Europe.
As the number of Russian troops rose to 130,000 along its Ukrainian border, hopes for a diplomatic solution remain among world leaders. Jason McMann, head of geopolitical risk analysis at Morning Consult, joined Cheddar News to break down the fluid situation. "We saw signs pointing towards an increase in tensions between Ukraine and Russia, whereas today we're seeing some signs that the Russian government may be willing to continue down a path of diplomatic negotiations to try and find some sort of non-military solution," he said.
Nancy Pelosi and House Democratic leaders are now planning to amend the stop trading on congressional knowledge act, otherwise known as the 'Stock' Act. This 2012 law governs how members disclose the purchase or sale of stocks and amending it would close a loophole, eliminating the trading of individual stocks by members of congress. Pelosi has consistently opposed a ban on stock trading by lawmakers and congressional staff...so what's changed? Kedric Payne, Vice President of Campaign Legal Center, joins Cheddar News to discuss.
In a 5-4 vote, the U.S. Supreme Court allowed for a controversial new version of the Alabama congressional map to remain in place. The lower court had previously ordered that the state must redraw that congressional map because it violates the Voting Rights Act by diluting the political power of Black voters. Redistricting expert Yurij Rudensky joins Cheddar News to weigh in.
