Biden remarks post-election/ Trump transition/ House majority 2024/ global reactions to Trump win/ Fed rate cuts/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ President Joe Biden will address the nation following Donald Trump’s victory, with control of the U.S. House still undecided. Key races across California and the West will determine the House majority, while the Senate has shifted to Republican control. As global leaders react, the Federal Reserve is expected to cut interest rates amid economic uncertainties raised by Trump’s victory.
Post-Election Updates: Quick Look
- Biden to Speak: Biden to address the nation at 11 a.m. ET following Trump’s election win.
- House Majority in Question: Dozens of House races remain undecided, with control of Congress on the line.
- Senate Shifts to GOP: Republicans gained control of the Senate, making a unified government possible.
- Fed to Cut Rates: The Federal Reserve is expected to cut interest rates amid election-related uncertainties.
- World Reactions: Global leaders and figures like the Dalai Lama and Turkey’s Erdogan react to Trump’s win.
Biden to Address Nation After Trump’s Victory, House Majority Uncertain
Deep Look
President Joe Biden will deliver a public address from the Rose Garden, marking his first on-camera appearance since Donald Trump secured a second term in the White House. Biden’s remarks are expected to cover the transition process and his commitment to national unity as Trump prepares to take office.
House Majority Remains Uncertain
While Trump’s victory was decisive, the fight for the U.S. House remains unresolved. Republicans gained control of the Senate on Wednesday, shifting the balance of power and setting the stage for potentially unified GOP leadership in Washington. However, dozens of House seats remain undecided, with the final tallies in states like California expected to take days, if not weeks. The outcome of the House races will determine whether Democrats retain a critical check on Trump’s agenda, or if the GOP will have a clear path to advance its policies.
Biden to Encourage Smooth Transition
Biden’s chief of staff, Jeff Zients, has urged Trump’s transition team, led by Howard Lutnick and Linda McMahon, to sign the necessary federal agreements for an organized transfer of power. These agreements would allow Trump’s incoming administration access to security clearances, federal resources, and policy documents essential for a smooth transition. Zients emphasized that signing the agreements promptly is crucial to ensure preparedness for Trump’s team by Inauguration Day.
Global and Economic Reactions to Trump’s Win
International leaders have reached out to Trump, expressing hopes for cooperation and stability. Israeli Prime Minister Benjamin Netanyahu, Ukrainian President Volodymyr Zelenskyy, and Turkish President Recep Tayyip Erdogan were among the first to call and congratulate Trump. Pope Francis and the Dalai Lama also extended their best wishes. Some leaders, such as French President Emmanuel Macron, signaled hope for Trump’s assistance in de-escalating international conflicts, particularly in Ukraine and Gaza.
Economic reactions have been swift, with the U.S. markets surging in response to Trump’s win. Stocks, banks, and cryptocurrencies saw a significant rally as investors anticipated a pro-business administration. However, the Federal Reserve is expected to cut interest rates again, in part due to concerns that Trump’s policies could drive inflation. His plans for infrastructure and defense spending, paired with potential tariffs on international goods, have raised concerns among economists about long-term inflationary pressures.
Trump’s Transition and Potential Appointees
Trump’s transition team is tasked with building a new administration over the next 75 days. In addition to his top Cabinet picks, Trump’s team must fill approximately 4,000 government positions, with 1,200 requiring Senate confirmation. With Republicans holding Senate control, Trump’s confirmation process is expected to be smoother than during his first term.
His team is also set to focus on domestic issues like healthcare reform and energy independence, while recalibrating U.S. relations on the international stage. His foreign policy is expected to include a mix of diplomacy and populist approaches, aimed at fostering strong relations with leaders like Hungary’s Viktor Orbán, Turkey’s Erdogan, and Argentina’s Javier Milei.
Addressing Misinformation: Fact-Checking the Vote
As election narratives circulate, fact-checkers have been actively debunking claims of fraud and miscounted votes. Some social media users falsely claimed that there was a multimillion-vote gap between Kamala Harris’s and Joe Biden’s totals, attributing the discrepancy to possible fraud. However, the AP and independent monitors confirmed that the votes are still being counted and that no irregularities have been reported. Misinformation experts have also clarified that any vote-counting delays do not suggest fraud, a myth frequently dispelled in recent election cycles.
Iranian Hopes and Worries Over Trump’s Return
In Iran, Trump’s win has elicited mixed reactions. While Supreme Leader Ayatollah Ali Khamenei has long been critical of Trump, Iran’s new reformist president remains cautiously open to negotiations. Facing a weakened economy, some Iranians hope that Trump might lift sanctions, as he did in seeking dialogue with North Korea during his first term. However, others fear that Trump’s hardline stance could worsen tensions in an already volatile region.
Bernie Sanders Calls for a Democratic Party Reckoning
Independent Sen. Bernie Sanders, re-elected to a fourth term, voiced criticism of the Democratic Party following Trump’s victory, calling for a realignment to focus on working-class issues. Sanders emphasized the need to address income inequality, healthcare access, and the challenges faced by Black, Latino, and low-income workers. His statement reflects his ongoing push for the Democratic Party to embrace a more progressive platform, an agenda he advocated during his 2016 and 2020 presidential campaigns.
Trump’s Diplomatic Outlook
Trump’s second term could alter U.S. diplomacy by moving away from traditional alliances and instead supporting populist and authoritarian leaders who align with his approach. Leaders like Orbán, Russia’s Vladimir Putin, and India’s Narendra Modi have signaled optimism about working with Trump. Analysts predict Trump’s foreign policy will focus on trade, security, and selective alliances, reshaping the U.S. stance on global issues.
Catholic and Tibetan Leaders Extend Hopes for Peace
Pope Francis’s envoy, Cardinal Pietro Parolin, expressed hopes that Trump would foster peace in regions troubled by ongoing conflicts, notably in Ukraine and Gaza. The Dalai Lama echoed sentiments of goodwill, expressing appreciation for America’s role in supporting democratic values and wishing Trump success in promoting peace and prosperity.
Fed’s Interest Rate Cut Reflects Economic Uncertainty
Amid post-election market shifts, the Federal Reserve is expected to announce its second interest rate cut in recent months to temper inflation. However, Trump’s proposed economic policies could challenge the Fed’s long-term inflation goals, especially if he enacts tariffs or implements substantial infrastructure spending. This anticipated rate cut highlights the economic adjustments underway as the markets react to Trump’s win and the uncertainties of the transition.
Final House Tally Pending
As vote counts continue, control of the U.S. House remains uncertain, with both Democrats and Republicans vying for a slim majority. The final outcome, expected in the coming days, will determine the legislative direction of Trump’s administration. If Republicans secure the House, Trump’s policy agenda could move forward unimpeded, while a Democratic hold would allow for a more balanced and restrained approach.
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