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(WASHINGTON) — Former President Donald Trump this week voiced an alarming claim about the alleged threat that immigrants pose to Black workers.

“Coming from the border are millions and millions of people who happen to be taking Black jobs,” Trump said at a gathering of the National Association of Black Journalists in Chicago. “They’re taking the employment from Black people.”

Trump has delivered the same dire warning about an immigrant threat to Black employment on multiple occasions throughout the 2024 campaign, including at a debate with President Joe Biden in June.

Economists who spoke to ABC News dismissed the claim as false. In fact, they said, a tight job market in recent years delivered record-low Black unemployment and spurred rapid wage gains.

“The claim is absolutely not true,” Valerie Wilson, the director of a program on race, ethnicity and the economy at the left-leaning Economic Policy Institute Action, told ABC News.

In a statement to ABC News, the Trump campaign claimed that undocumented immigrants pose a threat to Black employment.

“Illegal immigration disproportionally affects Black workers, including other minority workers, and we need to do everything to protect them from their jobs from being taken away,” Trump campaign spokesperson Steven Cheung said.

Cheung noted that the the current Black unemployment rate of 6.3% is higher than its lowest level under Trump of 5.3%. Inflation-adjusted weekly earnings for Black workers currently stand lower than they did at their high point under Trump, Cheung added.

“That is why President Trump has promised the largest deportation operation in American history since President Dwight D. Eisenhower. Kamala Harris will give amnesty and citizenship to all 15 million illegal aliens and make permanent the assault on Black American jobs,” Cheung added.

The all-time lowest figure for Black unemployment recorded in a single month registered at 4.8% in April 2023 during Biden’s term. Last year, the average Black unemployment rate stood at 5.5%, setting a record for the lowest figure over a calendar year, U.S. Bureau of Labor Statistics data shows.

To be sure, the unemployment rate stood much higher than the 3.3% unemployment rate among white workers in 2023. Historically, the Black unemployment rate has clocked in roughly twice as high as that of white people, due in large part to continued racial discrimination among employers, economists previously told ABC News.

Another key metric has shown robust job gains among Black workers. Last year, the share of job holders between the ages of 25 to 54 — known as the “prime age” for workers — reached an all-time high of nearly 78% among Black people, the Economic Policy Institute found. That statistic helps correct for issues such as aging or higher education that can skew unemployment statistics.

“The bottom line is immigrants aren’t pushing out Black workers,” Christian Weller, a professor of public policy at the University of Massachusetts at Boston who studies racial disparities in employment, told ABC News.

“It isn’t particularly surprising,” Weller added. That’s because immigrants act not only as workers but also as consumers, helping fuel demand for goods and services, which in turn propels economic activity and drives up hiring, he said.

The economy has grown at a solid pace in recent years, defying fears among some observers of a potential slowdown. Gross domestic product expanded much faster than expected over three months ending in June, U.S. Commerce Department data last week showed.

In June, a budget outlook released by the nonpartisan Congressional Budget Office said immigration would account for a sizable share of U.S. economic growth over the coming decade. In all, the U.S. GDP will rise nearly $9 trillion higher than it would otherwise due to an anticipated influx of immigrants, the CBO found.

“At the heart of this question is not just that these are people who are filling jobs that need to be filled, but they are also paying taxes, raising their families, and spending in the neighborhoods and communist in which they live,” Michelle Holder, a labor economist at John Jay College of Criminal Justice, told ABC News.

When speaking about the issue this week, Trump falsely characterized immigrants as a threat to “Black jobs.” That phrase “Black jobs,” which Trump used previously, drew condemnation from some economists.

Holder, who is also Black, said the term invokes a period of U.S. history that predates anti-discrimination laws, when some job listings explicitly described jobs as available only to Black applicants.

“I get a visceral reaction because there was a time in this country when there was work considered only suitable for Black people,” Holder said.

When asked about the phrase on Wednesday at the gathering of the National Association of Black Journalists, Trump said: “A Black job is anybody that has a job. That’s what it is.”

Wilson, of Economic Policy Institute Action, also criticized the phrase, in part because it fails to acknowledge the issue of “occupational segregation,” in which employers tend to place Black workers in low-wage positions rather than high-wage ones. The U.S., she added, has made progress in addressing that trend in recent years, though it remains an impediment for wage gains among Black workers.

“It’s just a very poor choice of words in terms of trying to say anything about the labor market, and it’s a poor choice of words in particular because it’s offensive,” said Wilson, who is Black.

“It totally ignores the facts about the current economy and the improvement that we’ve seen over the last four years,” Wilson added.

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(WASHINGTON) — A weaker-than-expected jobs report on Friday fueled concern about a potential economic recession and calls for an interest rate cut.

Employers hired 114,000 workers last month, falling well short of economist expectations of 185,000 jobs, U.S. Bureau of Labor Statistics data showed. The unemployment rate climbed to 4.3%, the highest level since October 2021.

The hiring in July marked a steep slowdown from the 206,000 jobs added over the previous month, and the new data came in well below the monthly average over the past year.

The cooldown of the job market foretells a possible economic downturn and bolsters the case for an interest rate cut at the Federal Reserve’s next meeting in September, analysts told ABC News. The central bank may have erred in holding interest rates steady at its meeting this week, some analysts added.

“The labor market is in a perilous spot,” Nick Bunker, economic research director for North America at Indeed Hiring Lab, told ABC News in a statement. “It’s not clear what changes and rescues it from its current trajectory.”

The report on Friday indicates that the job market is cooling faster than previously known, rekindling fears of a recession, some analysts said.

The unemployment rate has soared this year from 3.7% to 4.3%. That trend has triggered a recession indicator known as the “Sahm Rule,” which says that a rise of 0.5 percentage points in the unemployment rate within a 12-month period typically precedes a recession.

The major stock indexes fell in early trading on Friday in response to the jobs data.

“The July employment report landed with a loud thud,” Mark Hamrick, senior economic analyst at Bankrate, told ABC News.

In a post on X regarding the jobs data, prominent economist and New York Times opinion writer Paul Krugman described the economy as “pre-recessionary,” though he indicated that the economy will likely avert a downturn due to some technical reasons for the elevated unemployment rate.

Citing a need to rekindle job growth, however, Krugman called on the Fed to “cut, cut, cut.”

The fresh jobs data extends a monthslong stretch of economic performance marked by the key conditions for a rate cut: falling inflation and slowing job gains.

Price increases have slowed significantly from a peak of more than 9%, though inflation remains a percentage point higher than the Fed’s target rate of 2%. An outright drop in prices in June compared to the month prior marked a major sign of progress in slowing inflation.

In recent months, Fed Chair Jerome Powell has shifted focus to the central bank’s responsibility for maintaining a robust job market, in addition to its goal of controlling inflation.

“For a long time, since inflation arrived, it’s been right to mainly focus on inflation. But now that inflation has come down and the labor market has indeed cooled off, we’re going to be looking at both mandates,” Powell said last month at a meeting of The Economic Club of Washington, D.C.

On Wednesday, Powell said the Fed may cut interest rates at its next meeting in September, though he said the central bank would like to see further evidence that inflation is heading downward.

“We’ve made no decisions about future meetings and that includes the September meeting,” Powell said at a press conference in Washington D.C. “We’re getting closer to the point at which we’ll reduce our policy rate, but we’re not quite at that point yet.”

In recent months, observers voiced optimism about the possibility of a “soft landing,” in which inflation returns to normal levels while the economy averts a recession. However, the jobs report appeared to sour some of that enthusiasm.

“The soft landing in the U.S. labor market is in danger,” said Bunker.

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(NEW YORK) — Less than a week after Elon Musk publicly endorsed the candidacy of former President Donald Trump, he shared an edited video of Vice President Kamala Harris that used artificial intelligence to mimic her voice.

Musk, the wealthiest person in the world, spread the video on his social media platform X, where he boasts 192 million followers. The post appeared to violate X policies that disallow sharing “synthetic, manipulated or out-of-context media.” Later, Musk defended the video as parody, which is permitted on the platform when adequately labeled.

A similar firestorm broke out this week after X suspended an account affiliated with a fundraising drive in support of Harris called “White Dudes for Kamala.”

A message from X indicated that the account had been suspended for “violating our rules against evading suspension,” according to a screenshot posted by an event organizer. X, which plays host to nearly 250 million users, later reinstated the account.

The incidents stoked concern among some experts about the potential for Musk to wield X as a means of influencing public conversation about an election in which he holds a clear preference.

“It’s an unsettling situation,” Paul Barrett, a professor at New York University Law School and deputy director of the NYU Stern Center for Business and Human Rights, told ABC News. “It illustrates the power that can reside in the hands of a single individual because of the almost bizarre way our current communications architecture is structured.”

Some experts disagreed, however, saying critics lack evidence of Musk’s undue intervention at X. They also downplayed the role X plays in the wider political conversation, noting that a focus on the platform risks overstating Musk’s influence.

“I actually don’t think his ownership of Twitter or activities on Twitter make the slightest bit of difference,” Siva Vaidyanathan, professor of media studies at the University of Virginia, told ABC News, referring to the platform by its former name.

X did not immediately respond to ABC News’ request for comment. The request also sought comment from Musk.

When Musk acquired Twitter in 2022, he vowed to relax content moderation and turn the platform into a “digital town square.” The company cut more than half of its staff, eased restrictions on some forms of speech and reinstated an account belonging to Trump, among other changes.

Meanwhile, Musk’s follower count soared. When he acquired Twitter, Musk had about 110 million followers. After adding more than 80 million followers, Musk has far surpassed the followings of top users like former President Barack Obama and pop star Justin Bieber.

In some cases, Musk has posted and amplified misinformation on X, including a post in January that falsely claimed a dependence on mail-in ballots would lead to a “rigged election.”

“As the owner of Twitter, he’s the person who’s supposed to police the content but he himself is engaging in the spread of fake information,” Hamed Qahri-Saremi, a professor of computer information systems at Colorado State University who studies social media, told ABC News.

After easing content moderation, the platform has come to rely on Community Notes, a system in which context is appended to false or misleading posts once it receives approval from a sufficient number of users. That system has proven inconsistent, however, allowing some false posts to spread widely without corrections, The New York Times reported last week.

Sam Woolley, a professor at the University of Texas School of Journalism who focuses on political communication and technology, said Musk’s commitment to free speech has fallen short in recent cases, for instance the temporary suspension of the account affiliated with “White Dudes for Harris.”

“Musk’s actions suggest serious contradictions with his stated free speech intentions on the platform,” Woolley told ABC News.

Some experts sharply disagreed with criticism of Musk regarding his oversight of X, saying he hasn’t interfered with the platform in a manner that suggests an intent to reward his political allies or punish his foes.

“Has Elon come out and specifically set a policy or rule for X that in turn would then say he’s abusing that power?” asked Jason Buckweitz, a professor of business at Columbia University who studies the digital economy. “I haven’t seen any evidence.”

“I don’t necessarily think it’s a concern unless there’s some level of negative influence,” Buckweitz added.

Plus, observers should not assume that Musk’s large follower count translates into immense impact, said Vaidyanathan, noting that some of the followers are likely bots and inactive users.

“The very exposure to or posting of something doesn’t mean that anybody saw it or believed it,” Vaidyanathan said. Many of the followers are likely supporters of Musk who would already back his preferred candidate anyway, he added.

For his part, Vaidyanathan said Musk still wields significant political influence as the owner of aerospace company Space X, which has current contracts with the U.S. government.

Joshua Tucker, director of the Center for Social Media and Politics at New York University, said Musk’s dual role as an owner and user of X raises a policy question surrounding the regulation of social media platforms.

Tucker, who declined to say whether X warrants government regulation, pointed to a law calling for the ban or sale of TikTok as an example of the federal government weighing in on social media. On Wednesday, the Senate passed bipartisan legislation that aims to protect children’s safety on social media, signaling further willingness to police the platforms.

“We continue to live in an era where we have to think very carefully as a country about what types of public policies to regulate the behavior of social media companies in terms of public health but also the information ecosystem,” Tucker said.

Speaking about Musk’s dual role on X, Tucker added: “If this is something the public finds objectionable, that’s ultimately a public policy question.”

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(NEW YORK) — Spirit Airlines is shifting gears from its famously no-frills service to offer new fare options that include premium seats, carry-on baggage, Wi-Fi and even snacks.

The ultra-low-cost Florida-based carrier announced “a significant transformation” to its pricing structure on Tuesday with new ticketing bundles and more perks for passengers.

“We’re unveiling a new era in Spirit’s history and taking low-fare travel to new heights with enhanced options that are unlike anything we’ve offered before,” Ted Christie, Spirit’s president and chief executive officer, said in a statement.

Christie said the changes were a result of customer feedback from guests who want “choices for an elevated experience that are affordable and provide unparalleled value.”

The changes come on the heels of a similar announcement from Southwest Airlines earlier this month. The Dallas-based budget carrier said it would add assigned seats and a premium cabin, promising full details to come in September at the company’s investor day.

What to know about new changes on Spirit Airlines

Starting mid-August, Spirit Airlines will offer four new flexible travel options for travelers to choose from that range from elevated to economical, all without change or cancel fees: Go Big, Go Comfy, Go Savvy and Go.

Go Big includes a Big Front Seat, which has extra legroom, a wider seat, additional cushioning and no middle seat; snacks and drinks, including alcoholic beverages; one carry-on bag and one checked bag; priority check-in and boarding; and streaming access with high-speed Wi-Fi.

Go Comfy offers increased comfort and space with a guaranteed blocked middle seat, one carry-on bag, one checked bag, priority boarding, a snack and a non-alcoholic beverage.

Go Savvy gives passengers the choice between one carry-on bag or one checked bag and standard seat selection during booking.

Go, the airline’s base-level fare, provides options to purchase trip extras after booking including checked bags, standard seat selection, Wi-Fi, and snacks and beverages.

Travelers will be able to book the new options online at checkout starting Aug. 16 with the new guest experience changes rolling out by Aug. 27, 2024.

Priority check-in

Starting Aug. 27, passengers who purchase the Go Big fare class — or are Free Spirit Gold members or Free Spirit World Elite Mastercard holders — will be able to use a dedicated priority check-in line to access the first available ticket counter agent. The new lines will roll out at more than 20 airports.

Enhanced boarding experience

Spirit’s redesigned boarding process will have five groups with priority boarding available to Go Big and Go Comfy fare-classes, Free Spirit Gold and Silver members, Free Spirit World Elite Mastercard holders and active-duty U.S. service members, plus spouses and children who are traveling with that service member.

Expanding guest benefits, flexibility

The airline now offers no change or cancellation fees for all guests, regardless of ticket type, a checked bag weight allowance up to 50 pounds, and extended future travel voucher expiration, now up to 12 months.

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(WASHINGTON) — The Federal Reserve maintained its benchmark interest rate on Wednesday, keeping borrowing costs at their highest level in more than two decades despite a prolonged cooldown of inflation. An interest rate cut is widely expected in the coming months.

The Fed issued its latest interest rate decision after a months-long stretch of data has established the key conditions for a rate cut: falling inflation and slowing job gains.

Still, economists expected the Fed to leave interest rates unchanged on Wednesday. The move offered the central bank time to ensure current trends hold ahead of its next meeting in September.

“Inflation has eased over the past year but remains somewhat elevated,” the Federal Open Market Committee, the policymaking body at the Fed, said in a statement. “The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2%.”

The chances of an interest rate cut in September stand at more than 85%, according to the CME FedWatch Tool, a measure of market sentiment. The same tool showed the odds of a rate cut on Wednesday at a meager 5%.

The economy appears to be hurtling toward interest rate cuts later this year. Such an outcome would deliver long-sought loan relief for households and businesses saddled with expensive debt.

Price increases have slowed significantly from a peak of more than 9%, though inflation remains a percentage point higher than the Fed’s target rate of 2%. An outright drop in prices in June compared to the month prior marked a major sign of progress in slowing inflation.

The labor market has continued to grow but its breakneck pace has cooled. The unemployment rate has ticked up this year from 3.7% to 4.1%.

The Fed is guided by a dual mandate to keep inflation under control and the labor market strong. The monthslong stretch of good news for inflation alongside bad news for unemployment has prompted the Fed to give additional consideration to its goal of keeping Americans on the job, Fed Chair Jerome Powell said last month.

“For a long time, since inflation arrived, it’s been right to mainly focus on inflation. But now that inflation has come down and the labor market has indeed cooled off, we’re going to be looking at both mandates. They’re in much better balance,” Powell said at a meeting of The Economic Club of Washington, D.C.

“That means that if we were to see an unexpected weakening in the labor market, then that might also be a reason for reaction by us,” Powell added.

However, robust economic data released last week may complicate the path toward a rate cut.

The U.S. economy grew much faster than expected over three months ending in June, accelerating from the previous quarter and defying concerns about a possible slowdown, according to data from the U.S. Bureau of Economic Analysis.

If the Fed cuts interest rates as the economy is heating up, the central bank risks rekindling rapid price increases.

After the economic data came out last Thursday, the odds of a September interest rate cut fell to about 80%. The dip in sentiment proved temporary, however. The odds have risen seven percentage points since then.

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(NEW YORK) — Boar’s Head has expanded its previous recall on several types of deli meats to include an additional 7 million pounds of ready-to-eat meat and poultry products that may be contaminated with listeria.

The U.S. Department of Agriculture’s Food Safety and Inspection Service announced an update on Wednesday that Boar’s Head Provisions Co. has recalled an additional 71 products produced between May 10, 2024, and July 29, 2024, under the Boar’s Head and Old Country brand names.

This is an expansion on Friday’s recall announcement amid an ongoing investigation by the Centers for Disease Control and Prevention into an outbreak of listeria infections linked to meats sliced at delis that have sickened 34 people across 13 states. Authorities say further testing is required to determine whether any recalled products are linked to this outbreak.

Details of Boar’s Head deli meat recall

The Virginia-based meat producer recalled approximately 207,528 pounds of products that were distributed to retail deli locations nationwide, including all liverwurst products and “additional deli meat products that were produced on the same line and on the same day as the liverwurst” that could be “adulterated with L. monocytogenes.”

Boar’s Head deli meat recalled product information

The newly added items “include meat intended for slicing at retail delis as well as some packaged meat and poultry products sold at retail locations,” FSIS stated Wednesday. “These products have ‘sell by’ dates ranging from 29-JUL-2024 through 17-OCT-24.”

Click here for the full list of product details with item numbers, brand names and sell by dates.

The ready-to-eat liverwurst products were produced between June 11, 2024, and July 17, 2024, and have a 44-day shelf life.

Recalled liverwurst products include 3.5-pound loaves in plastic casing, or “various weight packages sliced in retail delis,” according to the FSIS, and are labeled “Boar’s Head Strassburger Brand Liverwurst MADE IN VIRGINIA.”

The products, which the FSIS said were shipped to retailers, bear sell by dates ranging from July 25 to Aug. 30, 2024. Sell by dates are printed on the side of the packaging.

Click here for images with full label details.

Additional ready-to-eat deli meats subject to recall

• 9.5-pound and 4.5-pound full product, or various weight packages sliced in retail delis, containing “Boar’s Head VIRGINIA HAM OLD FASHIONED HAM” with sell by date “AUG 10” on the product packaging.
• 4-pound, or various weight packages sliced in retail delis, containing “Boar’s Head ITALIAN CAPPY STYLE HAM” with sell by date “AUG 10” on the product packaging.
• 6-pound, or various weight packages sliced in retail delis, containing “Boar’s Head EXTRA HOT ITALIAN CAPPY STYLE HAM” with sell by date “AUG 10” on the product packaging.
• 4-pound, or various weight packages sliced in retail delis, containing “Boar’s Head BOLOGNA” with sell by date “AUG 10” on the product packaging.
• 2.5-pound, or various weight packages sliced in retail delis, containing “Boar’s Head BEEF SALAMI” with sell by date “AUG 10” on the product packaging.
• 5.5-pound, or various weight packages sliced in retail delis, containing “Boar’s Head STEAKHOUSE ROASTED BACON HEAT & EAT” with sell by date “AUG 15” on the product packaging.
• 3-pound, or various weight packages sliced in retail delis, containing “Boar’s Head GARLIC BOLOGNA” with sell by date “AUG 10” on the product packaging.
• 3-pound, or various weight packages sliced in retail delis, containing “Boar’s Head BEEF BOLOGNA” with sell by date “AUG 10” on the product packaging.

The recalled products bear establishment number “EST. 12612” inside the USDA mark of inspection on the product labels.

The above products were produced on June 27, 2024, according to Boar’s Head.

What prompted the Boar’s Head recall

According to the USDA, the problem was discovered when the FSIS “was notified that a sample collected by the Maryland Department of Health tested positive for L. monocytogenes.”

“The Maryland Department of Health, in collaboration with the Baltimore City Health Department, collected an unopened liverwurst product from a retail store for testing as part of an outbreak investigation of L. monocytogenes infections,” the agency stated. “Further testing is ongoing to determine if the product sample is related to the outbreak. Anyone concerned about illness should contact a healthcare provider.”

Details of listeria outbreak linked to deli meats

The FSIS is currently working with the CDC as well as state public health partners to investigate a multi-state outbreak of listeria infections linked to meats sliced at delis, USDA officials said this week.

According to the agency, as of July 25, “34 sick people have been identified in 13 states, including 33 hospitalizations and two deaths.”

As of July 19, states involved in the outbreak included Minnesota, Wisconsin, Illinois, Missouri, Georgia, North Carolina, Virginia, Maryland, Pennsylvania, New Jersey, New York and Massachusetts.

“Samples were collected from sick people from May 29, 2024, to July 12, 2024,” the USDA stated this week, adding that “the investigation is ongoing.”

In a notice published July 19, the CDC stated that many of those sickened in the outbreak had reported eating meat that they had sliced at deli counters.

“Investigators are collecting information to determine the specific products that may be contaminated,” the CDC stated.

“Listeria spreads easily among deli equipment, surfaces, hands and food,” the agency added. “Refrigeration does not kill Listeria, but reheating to a high enough temperature before eating will kill any germs that may be on these meats.”

Symptoms, side effects of listeria

According to the CDC, listeria can cause severe illness “when the bacteria spread beyond the gut to other parts of the body” after a person consumes contaminated food. Those at higher risk include pregnant people, those aged 65 or older, or anyone who has a weakened immune system, the CDC says.

“If you are pregnant, it can cause pregnancy loss, premature birth, or a life-threatening infection in your newborn,” the CDC states on its website. “Other people can be infected with Listeria, but they rarely become seriously ill.”

According to the CDC, anyone infected with listeria may experience “mild food poisoning symptoms” such as diarrhea or fever, and many recover without antibiotic treatment.

An estimated 1,600 people get listeria food poisoning each year and about 260 die, according to the CDC.

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(WASHINGTON) — The Federal Reserve has held interest rates steady at a 23-year high since last July — but a rate cut is widely expected in the coming months. On Wall Street, the outlook for an interest rate cut has shifted from if to when.

The central bank will issue its latest interest rate decision on Wednesday after a months-long stretch of data has established the key conditions for a rate cut: cooling inflation and slowing job gains.

Still, economists expect the Fed to leave interest rates unchanged on Wednesday, offering the central bank time to ensure current trends hold ahead of its next meeting in September.

The chances of an interest rate cut at the Fed’s meeting in September stand at more than 85%, according to the CME FedWatch Tool, a measure of market sentiment. The same tool shows the odds of a rate cut on Wednesday at a meager 5%.

The economy appears to be hurtling toward interest rate cuts later this year, nevertheless. Such an outcome would deliver long-sought loan relief for households and businesses saddled with expensive debt.

Price increases have slowed significantly from a peak of more than 9%, though inflation remains a percentage point higher than the Fed’s target rate of 2%. An outright drop in prices in June compared to the month prior marked a major sign of progress in slowing inflation.

The labor market has continued to grow but its breakneck pace has cooled. The unemployment rate has ticked up this year from 3.7% to 4.1%.

The Fed is guided by a dual mandate to keep inflation under control and the labor market strong. The monthslong stretch of good news for inflation alongside bad news for unemployment has prompted the Fed to give additional consideration to its goal of keeping Americans on the job, Fed Chair Jerome Powell said last month.

“For a long time, since inflation arrived, it’s been right to mainly focus on inflation. But now that inflation has come down and the labor market has indeed cooled off, we’re going to be looking at both mandates. They’re in much better balance,” Powell said at a meeting of The Economic Club of Washington, D.C.

“That means that if we were to see an unexpected weakening in the labor market, then that might also be a reason for reaction by us,” Powell added.

However, robust economic data released last week may complicate the path toward a rate cut.

The U.S. economy grew much faster than expected over three months ending in June, accelerating from the previous quarter and defying concerns about a possible slowdown, according to data from the U.S. Bureau of Economic Analysis.

If the Fed cuts interest rates as the economy is heating up, the central bank risks rekindling rapid price increases.

After the economic data came out last Thursday, the odds of a September interest rate cut fell to about 80%. The dip in sentiment proved temporary, however. The odds have risen seven percentage points since then.

Copyright © 2024, ABC Audio. All rights reserved.

(NEW YORK) — Delta Air Lines has reportedly hired a prominent law firm to help the Atlanta-based carrier pursue potential damages from CrowdStrike and Microsoft following the global tech outages that caused a slew of internal computer issues and prompted thousands of canceled flights earlier this month.

CNBC first reported that Delta had hired Boies Schiller Flexner LLP, the law firm whose chairman David Boies previously represented the U.S. government in the landmark antitrust case against Microsoft.

Although a lawsuit has not yet been filed, CNBC reported that Delta plans to seek potential compensation from both companies.

When asked for further comment on the matter and the report that Delta had hired Boies, a spokesperson for the airline told ABC News that the company had “no information to add.”

Following the tech chaos on July 19, which affected CrowdStrike customers who use Microsoft Windows products, Delta’s systems were disrupted for more than six days, causing widespread flight delays and cancellations, service failures and an influx of frustrated, stranded passengers, which prompted an investigation by the U.S. Department of Transportation.

Crowdstrike said it deployed a fix for the faulty update on July 19, hours after the initial outage.

The IT outage resulted from a faulty software update initiated by CrowdStrike on July 19. Mark Lanterman, chief technology officer at the cybersecurity firm Computer Forensic Services, told ABC News previously that the faulty update subsequently caused a meltdown within Windows operating systems.

“The CrowdStrike update is deep inside the operating system,” Lanterman said. “When that was installed, there was bad code inside of this update. And when Windows came across the bad code, it panicked and it crashed.”

According to a statement from Delta earlier this week, “Upward of half of Delta’s IT systems worldwide are Windows-based.”

On Thursday, Delta announced that “operational reliability [had] returned to normal” across mainline and Delta Connection flights.

“Delta is committed to caring for our customers during this time and has taken a number of other steps to make things right for customers affected by delays and cancellations,” the company said in an announcement.

Those steps included reimbursing out-of-pocket expenses, extended delay refunds, issuing SkyMiles Program miles and travel vouchers, notifying customers of rebooking options, and extending a travel waiver for all customers with travel booked from July 19-28.

According to CNBC, the outages reportedly cost Delta between an estimated $350 million and $500 million.

CrowdStrike and Microsoft did not immediately respond to ABC News’ request for comment.

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(NEW YORK) — Holland America has created some picture perfect cruise itineraries for travelers with celestial events on their adventure bucket list such as seeing the northern lights or a total solar eclipse from the high seas.

The Seattle-based cruise line announced a new slate of celestial cruises on Monday that will take guests to prime locations throughout Europe to experience three different natural phenomena firsthand.

Three new Holland America solar eclipse cruises

Following the success of Holland America’s 2024 eclipse cruises, the company’s chief commercial officer, Beth Bodensteiner, said the team put together the 2026 lineup for more guests “to get a front-row seat for some of the world’s most special natural spectacles” with “in-depth exploration of exciting destinations.”

Three ships from the fleet will be positioned under the path of totality for the Aug. 12, 2026, total solar eclipse.

They include the Oosterdam, which will take guests for a 13-day Mediterranean cruise departing off the eastern coast of Spain, at sea in the path of totality between Alicante and Barcelona; the Nieuw Statendam, which is set to explore Northern Europe for a 28-day cruise, sailing off the northwest coast of Iceland at sea in the path of totality; and the 35-day Voyage of the Vikings, a roundtrip cruise from Boston aboard the Zuiderdam, will sail under the path of totality off the west coast of Iceland, just before arriving at Grundarfjörður.

Guests aboard each excursion can expect lectures from scientific experts, themed activities and proper safety equipment for viewing the total eclipse.

The Voyage of the Vikings sets sail July 18, 2026, and has calls at Portland, Maine; Sydney, Corner Brook, Red Bay, St. Anthony, St John’s and Halifax in Canada; Paamiut (Frederikshåb), Nanortalik and Qaqortoq (Julianehåb) in Greenland; Reykjavik, Seydisfjördur, Húsavík and Grundarfjørdur in Iceland; Eidfjord, Norway; Rotterdam, Netherlands; Dublin, Ireland; and Belfast, Northern Ireland.

The Scandinavian Solar Eclipse departs July 25, 2026, from Dover, England, or Rotterdam aboard the Niew Statendam, with multiple calls in Norway, Iceland, Greenland, the Faroe Islands and Scotland.

The shortest of the three voyages through the Mediterranean will have calls at Spain, France, Italy, Portugal, Greece and Montenegro.

Holland America debuts Northern Lights cruises

“As 2026 is predicted to be a highly active period for auroras, a growing number of travelers plan to prioritize seeing them on vacation. Guests seeking to pair that adventure with an in-depth exploration of Norway can do so on one of two Northern Lights cruises aboard Rotterdam and Nieuw Statendam,” Holland America announced. “The cruises feature an overnight in Alta, also known as The City of the Northern Lights, and spend five days above the Arctic Circle.”

The first of the two cruises, a 14-day journey departing Oct. 4, 2026, will sail from Rotterdam to Amsterdam. The 15-day option departs Oct. 16, 2026, from Dover to Rotterdam.

Summer Solstice Holland America cruise above the Arctic Circle

The Nieuw Statendam will take passengers on a 14-day cruise crossing the Arctic Circle to celebrate the summer solstice in Honningsvåg, Norway, one of the northernmost cities on the planet, to experience the maximum amount of daylight on the longest day of the year.

The cruise line is offering some early booking discounts for a limited time on premium packages for its Mariner Society loyalty members, which includes an up to $400 onboard credit for bookings made by Oct. 29, 2024.

Bookings for the Celestial Cruises open July 31.

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(WASHINGTON) — Former President Donald Trump told the audience at a cryptocurrency conference in Nashville, Tennessee, over the weekend that he wants to turn the U.S. into the “crypto capital of the planet.”

The remarks thrust digital currency into the forefront of a presidential campaign in which both major candidates are seeking to draw contrasts on hot-button issues. The political attention comes during an upswing for bitcoin, the most popular cryptocurrency, which has surged 60% in value this year.

Trump, who opposed crypto as president, has recently undertaken a campaign blitz in support of digital assets. By contrast, likely Democratic nominee Kamala Harris has remained quiet on the issue since President Biden ended his reelection bid more than a week ago and endorsed the vice president in his place.

“This is a really live issue,” Aaron Klein, a senior fellow in economic studies at the Brookings Institute, told ABC News, pointing to key constituencies that disproportionately trade cryptocurrency, such as young voters.

In response to ABC News’ request for comment, the Trump campaign touted the candidate’s support for crypto and the wider tech industry.

“As the Bitcoin conference demonstrated, President Trump wants our nation to regain the global lead for technology, innovation, and manufacturing. That includes crypto and other sectors,” senior adviser Brian Hughes told ABC News in a statement. “Crypto innovators and others in the technology sector are under attack from Kamala Harris and the Democrats who’ve placed obstacles and unnecessary burdens in the way of our nation’s next generation of industry leaders.”

The Biden campaign did not immediately respond to an ABC News request for comment on the issue.

Here’s what to know about where Trump and Harris stand on cryptocurrency:

Where does former President Donald Trump stand on cryptocurrency?

While in office, Trump sharply criticized crypto. In 2019, he derided digital assets in a post on X as “highly volatile and based on thin air.”

“Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade,” Trump added.

Lately, however, Trump has voiced full-throated support for crypto. Speaking at the annual Bitcoin Conference on Saturday, Trump vowed to ease regulation of cryptocurrency and establish the federal government’s first National Strategic Bitcoin Reserve.

Trump also said he would replace Securities and Exchange Commission Chair Gary Gensler, who many crypto proponents dislike for his robust approach to crypto regulation.

“Trump seems to have had a change of heart and is going all-in on crypto,” Eswar Prasad, a professor at Cornell University who studies digital assets, told ABC News.

In recent weeks, Trump has received endorsements from some major figures in Silicon Valley who back crypto, including Tesla CEO Elon Musk, a prominent crypto supporter. Other Trump supporters include Cameron and Tyler Winklevoss, billionaire crypto entrepreneurs who gained prominence in the early 2000s after suing Facebook CEO Mark Zuckerberg.

In a post on X on Monday, Cameron Winklevoss said, “We’re going to make America and Bitcoin greater than ever before.”

Prasad said Trump’s about-face on crypto aligns with his effort to appeal to Silicon Valley donors and signal a deregulatory approach toward business.

“He seems to view the crypto industry as a source of financing for this campaign and also as lining up with his anti-big government message,” Prasad said.

It remains difficult to discern exactly where Harris stands on crypto, experts told ABC News.

Where does Vice President Kamala Harris stand on cryptocurrency?

The Biden administration has been widely perceived as tough on crypto, they noted, citing the federal prosecution of FTX founder Sam Bankman-Fried and cryptocurrency regulations enforced by Gensler. However, experts told ABC News, it isn’t clear how closely Harris intends to align herself with Biden on the issue.

Democrats are divided over crypto policy, said Klein, of the Brookings Institute. Progressive Sen. Elizabeth Warren, D-Mass., has been a forceful critic of crypto, for instance, while tech entrepreneur and Harris supporter Mark Cuban has sought a friendlier stance on digital assets, Klein noted.

“The Democratic party has a split,” Klein said.

Harris ultimately may seek to soften the Biden administration’s position on cryptocurrency, experts said. The Harris campaign has contacted top crypto firms in an effort to “reset” relations between the industry and the Democratic Party, the Financial Times reported on Saturday.

“I suspect Harris’s campaign will have some level of strategic ambiguity between the Biden administration’s line and what the cryptocurrency industry wants,” Klein told ABC News.

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