Former president Donald Trump is on Long Island tonight he is hosting his first Campaign rally since the second apparent Assassination attempt on his life law Enforcement says Security will be Extraordinarily tight for the event Meanwhile vice president kamla Harris Spoke at the Congressional Hispanic Caucus institute's leadership conference In Washington today her address is in Observance of national Hispanic Heritage Month r Nicole Killian is on New York's Long Island with former president Trump While Aaron Navaro is covering the Campaign for the Harris and Harris Campaign but we start with Joe link and The federal reserve's first interest Rate cut in more than four years the FED Today cutting interest rates by half of A percentage Point Joe so great to see You you had a really important exchange With chairman Powell today and I want to Play that for our viewers First what message are you trying to Send American consumers the American People with this unusually large rate Cut I I would just say that you know the US economy is in a good place and and Our our decision today is designed to Keep it there more specifically the Econom is growing at a solid Pace Inflation is coming down closer to our 2% objective over time and the labor Market is is still in solid
Shape and Jing I feel like we've been Talking about and anticipating this day For so long so what signs in the economy Brought us here why now well essentially Inflation last month was 2.5% it's down From that over 9% that we saw a couple Of years ago so the FED feels like its Job is not mission accomplished yet but Fed chair Powell saying that they feel So much more confident in where Inflation is as it moves more Meaningfully to that 2% Target that We've been talking about adnasium they Also see that the labor market is Changing and so part of the reason you See this half Point rate cut is now they Believe their mission is not only just Fighting inflation but it's also Maintaining the health of the labor Market giving small businesses a reason To reinvest in their companies again Spend some more money bring those Borrowing cost down a little bit and What does this mean for most Americans I Know everyone wants to know when will I Start feeling some relief somewhere I Think we were talking about maybe Refinancing right and we were talking About should I go shopping what should I Buy yeah what should I be looking at Well I actually have some new numbers From bank rate on this front now the Here's the deal this kind of Half Point Rate cut it takes a couple of billing
Cycles so to speak to hit it's not like It's going to hit your mortgage rates Tomorrow mortgage rates already coming Down pretty significantly and usually go Move ahead of an interest rate cut but When we look at what's happening you can See credit card debt this half Point Rate cut according to bank rate means Just $2 off a monthly interest rate Payment for a $5,000 balance if you're Carrying that and if you look at a new $35,000 auto loan for example you're Going to take $8 off a month so so it's Pretty insignificant for those bigger Ticket purchases but when you look at Something like a Helo a home equity line This would mean on a $50,000 HELOC you'd Get $21 off a month so there is a little Bit of meaningful movement that will be Coming but more importantly this cut Kicks off another cut or two come November December that might be an Additional half point then that's Probably when you should probably be Thinking about refinancing or getting Back into the Home Auto Market every bit Counts every bit counts absolutely um so Some Republicans are agreeing with the Move but we know that former president Trump has said that lowering rates is Quote something that they know they Shouldn't be doing so close to an Election yes are politics at play here I Have asked fed sherel this twice before
He was asked about it again today twice And he says that politics do not play Into the open market committee's Decisions and he says that their job is To serve the American people to keep the US economy in balance and that he does Not believe that a central bank should Be influenced by head of state by the White House and he gave some interesting Historical context around that around The globe so that's what he says but Certainly we're what 48 days away from The election right and so that politics Question is certainly a big factor in All of this and the White House insists That it is independent from the FED Every time we ask that as well exactly Thank you so much jooling thanks turning Now to the campaign Trail and our Nicole Kilan and Aaron Navaro Nicole Trump is Holding a rally on New York's Long Island tonight you are there and we know That security is expected to be tighter Have you observed any of that given that You have been to plenty of rallies Before and what are law enforcement Officials telling You well we know according to our CBS News reporting that the former president Is now receiving some of the highest Levels of security Possible pretty much on par with what a Sitting US president would receive in Terms of counter sniper teams counter
Surveillance teams and the likes you Know being here at this rally in Long Island we have seen a noticeable uh law Enforcement presence we've seen law Enforcement on Horseback K9s we've seen Some uh other law enforcement officials Conducting surveillance in the area and I talked to a number of rally goers About how they feel about that level Security no concerns about safety listen We're all here we're all here to support Our guy um I mean you can see the energy Here you can see the excitement here you Can see how we all support someone who's Going to make the country great again we Got to turn out to support him we got to Turn out to let him know that no matter What happens we're standing behind him We're all encouraging him a lot of Friends and family were spooked but I'm A die hard I think he's done good for The uh for the country So at least for those two attendees they Are undeterred they feel that they want To be here in support of the former President they feel that if he can Continue to come out and like This and Nicole New York is a democratic Stronghold he could be in one of several Battleground States so why is he there Tonight and what do you expect we will Hear from Trump YN the yeah I mean look Lot of people are wondering why is the Former president even here in Long
Island and New York to begin with Considering it is a deep blue state but It's worth pointing out a couple of Things one technically you may recall in That so-called cush money payments Cas The former president was du to be sented Today uh that got pushed back to November but you know that was something That formerly was on the schedule the Other thing is that you know parts of Long Island are very competitive in Terms of down B races this District that We're in the fourth congressional District is very tight right now in Terms of Congressman Diaz bazito who's In a very competitive race with his Democratic opponent so some people I Talk to say they feel it's good that the Former president here is here kind of Lend some of these candidates an extra Boost because they are concerned about The balance of power in Congress Nicole Thank you so much for your time in Reporting And now Aaron Navaro joins us he has Been covering the Harris campaign Aaron Great to see you today we heard the vice President speak at the Congressional Hispanic caucus institute's leadership Conference here's what she had to say on The southern Border we must also reform our broken Immigration System and protect our
Dreamers and understand we can do both Create an earned Pathway to citizenship And ensure our border is secure we can Do both and we must do both and that Appearance is tied to National Hispanic Heritage Month we know that the campaign Has been flooding uh the airwaves in Battleground states to try to reach more Latino voters can you talk about this Voting block and how essential it is to Her Campaign this was a voting block that While President Biden was still in the Race it was an open question on if they Would stick with the Democratic party And if so what those numbers would look Like since then we've seen M some Momentum with Harris at the top of the Ticket from uh Hispanic voters from Black voters towards her but they still Need to shore up and make sure she Retains that support and that's in part Why they're going to have Governor walls In Allentown Pennsylvania a heavy Latino Community in a crucial swing state later This weekend campaigning to show that They are looking to invest time and Money in courting this vote and I would Also know I was at the chci event Earlier today and Harris had some new Language talking about Trump's uh plan For mass deportations of undocumented Migrants she said quote how is that Going to happen massive raids massive
Detention camps what are they talking About so you're seeing some new Criticism from her on this issue of Immigration I want to turn now to some Big news of the day which is the Teamsters announcing that they won't Make a presidential Indorsement um I think the last time That happened was 1996 and this comes Right after a a substantial meeting Between the vice president and the Teamsters the president of that Union Calling it a job interview so what does It say that they aren't endorsing anyone Is it a blow to the vice president and And I know you have some information About internal polling as well well it's Certainly recognition of that internal Polling the teamster statement that they Put out said that neither candidate Agreed to some specific things they Wanted pledges on when it comes to labor Rel They did criticize Trump for not Pledging to veto a right to work act if That got to his desk but some polling of Rank and file members that they Conducted from the time that President Biden stepped down up until their Meeting with vice president Harris on Monday showed a heavy lean towards uh Former president Trump about 58% in that Poll and that was sent to rank and F Members through a QR code done virtually
The teamsters also said they did a Similar type of poll Rank and file Members this week uh through the phone That had similar numbers people uh Saying that they support former President Trump and in the wake of this Kind of no endorsement decision from the Teamsters you're starting to see some Local Teamsters in Battleground states Such as Nevada and Michigan come out and Say that they endorse vice president Harris this has been a contentious issue For the teams there's a million members Shan O'Brien often says uh it's a pretty Diverse group and they made their Decision today to Endorse all right Aaron and those Members will have their final word on Election Day really appreciate your Time and a quick programming note join Us early on October 1st at 4 pm Eastern For a special vice presidential debate Edition of America decides live from New York City CBS News will moderate the Debate and bring you coverage all Evening long
