Senator Kamala Harris, who was once seen as a top tier contender for the 2020 Democratic presidential nomination, dropped out of the race on Tuesday.
"I've taken stock and looked at this from every angle, and over the last few days have come to one of the hardest decisions of my life," the California senator wrote in a note to supporters. "My campaign for president simply doesn't have the financial resources we need to continue."
Harris spent the early days of her campaign as a promising candidate, rising as high as second place in the Real Clear Politics poll average in July, but has struggled with finances as well as reports of staff disorganization and infighting, according to the New York Times.
By November, she was polling in the low single digits and laid off her New Hampshire field team to increase her focus on Iowa's first-in-the-nation caucuses on February 3.
Though she had shifted focus to the Hawkeye State, she lacked the cash to run TV ads in Iowa, a state in which Harris had not run an ad in three months. Only recently, support for a super PAC made up of former aides to pay for advertising began to gain traction within the campaign.
Harris was one of seven candidates who had already qualified for the sixth debate, which will be held in her home state of California, before today's announcement.
The senator had started her campaign in front of a crowd of20,000 in Oakland, according to her campaign, and said she is withdrawing "with deep regret — but also with deep gratitude."
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
Federal Reserve chairman Jerome Powell on Friday said the U.S. central bank was prepared to take action in the event of a global economic downturn. Powell, however, was tightlipped on whether the Fed would initiate another quarter-point interest rate cut as many investors had hoped.
Read Federal Reserve Chair Jerome Powell's prepared remarks from his speech Friday at the Economic Symposium held in Jackson Hole, Wyo.
These are the headlines you Need 2 Know for Friday, Aug. 23, 2019.
The Democratic presidential candidate from Vermont drew praise from activists and advocates after revealing his $16.3 trillion plan to combat climate change.
Planned Parenthood is standing by its decision to withdraw from the federal government’s family planning program rather than comply with the Trump administration’s new rule barring referrals to doctors who provide abortions.
These are the headlines you Need 2 Know for Thursday, Aug. 22, 2019.
President Trump on Wednesday reversed his position on lowering payroll taxes to bolster economic growth, telling reporters that “we don’t need it.” The reversal comes as a growing number of economists have warned that a recession in the U.S. is on the horizon.
The new rule, ending the so-called Flores agreement, will allow officials to hold families in detention indefinitely for the duration of immigration cases, which could be much longer than the current 20-day limit.
The minutes released from the July Federal Reserve meeting showed that the interest rate cut was a "mid-cycle adjustment to policy."
