Biden’s Post-Election Address & Federal Reserve Cuts Rates | Afternoon Update | 11.7.24
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This episode is brought to you by Responsible Man. Visit ResponsibleMan.com and use code WIRE for 30% off plus an additional $9 off your first order. That's ResponsibleMan.com, code WIRE. I'm Georgia Howe with Daily Wire Editor-in-Chief John Bickley. It's Thursday, November 7th, and this is your Morning Wire afternoon update.

President Biden addressed the nation from the Rose Garden today in his first appearance since Donald Trump's victory. Daily Wire reporter Amanda Prestigiacomo has the latest.

Biden confirmed he had spoken to the president-elect and offered his congratulations, promising a peaceful, orderly transition, something he said the American people deserve. I've said many times, you can't love your country only when you win. You can't love your neighbor only when you agree. Something I hope we can do no matter who you voted for, is see each other not as adversaries, but as fellow Americans. Bring down the temperature.

Biden praised Harris's inspiring campaign and her backbone like a ramrod. Harris, who conceded yesterday at Howard University, vowed to continue fighting for her campaign's values. Meanwhile, Biden emphasized the integrity of the U.S. electoral system, saying it is honest, fair and transparent. President-elect Trump will return to the White House in January after a decisive victory.

Illegal immigrants are scrambling across the border ahead of Trump's inauguration. Eagle Pass, Texas saw over 100 migrants, including families and unaccompanied minors in the early hours on Wednesday morning after election results showed a likely Trump victory.

Border agents quickly intercepted and processed the group, wrapping children in blankets to keep them warm. Meanwhile, south of the border, a new caravan of 3,000 migrants has formed in Mexico, hoping to reach the U.S. before any new restrictions are imposed.

The Federal Reserve cut interest rates by a quarter point today, bringing the benchmark rate to 4.5 to 4.75 percent. It's the second straight cut since the Fed tried to rein in inflation while supporting jobs. Fed Chair Jerome Powell says policy is being recalibrated to match economic conditions. Our monetary policy actions are guided by our dual mandate to promote maximum employment and stable prices for the American people.

We see the risks to achieving our employment and inflation goals as being roughly in balance. And we're attentive to the risks to both sides of our mandate. Markets had expected this move, which comes as the U.S. economy maintains solid growth. This episode is brought to you by Shopify. Get a $1 per month trial period at Shopify.com slash MorningWire. That's Shopify.com slash MorningWire.

A senior Hamas official has called for an immediate end to Israel's war in Gaza following Donald Trump's election victory. Hamas is also urging the U.S. to help in achieving Palestinian statehood. Meanwhile, Israeli Prime Minister Benjamin Netanyahu congratulated Trump, describing their conversation as warm and cordial. Trump has pledged to work toward Israel's security.

New York Attorney General Letitia James, who spearheaded the prosecution of President Trump, has vowed to fight back and, quote, stand tall in the face of injustice, revenge, and retribution. The AG, along with New York Governor Kathy Hochul, have nonetheless agreed to work with Trump for the betterment of New Yorkers. Here's the AG. This is not the time to be fearful, New York, but faithful and steadfast, knowing that I, as the Attorney General, along with my entire team,

We are guardians of the law and we are prepared, my friends, to fight back. Those are your drive home updates this afternoon. To learn more about these stories, go to dailywire.com. And for more in-depth reporting on the biggest stories of the day, tune into our full episode of Morning Wire every morning.