A week before Democratic Gov. Gavin Newsom beat back a recall election, Vice President Kamala Harris returned to California to rally voters to his side. United in victory for now, Democrats suspect Harris and Newsom will soon find themselves on a collision course.
There’s a growing realization among Democrats that their plans for a $3.5 trillion spending package to reshape the nation’s social safety net and to tackle climate change will have to be slimmed down because of anxious centrists worried about the 2022 midterms.
U.S. investors cut their use of leverage in July, marking the first month since the onset of the pandemic that saw a reduction in the use of margin debt to buy securities like stocks, potentially a warning sign for markets buoyed by heavy use of borrowed money.