Election 2024 live updates: Trump and Biden campaign after presidential debate

Latest news and live updates after Donald Trump and Joe Biden faced off on the debate stage for the first time in 2024 on the heels of Trump and Hunter Biden's convictions.

CopiedShareGood inflation news for the Biden administration lost in debate falloutMike Calia

There's good news about inflation this morning. The wonky-sounding personal consumption expenditures index (PCE) for May came in at its slowest growth rate in more than three years. It comes after other recent encouraging inflation data, including from the closely watched consumer price index (CPI).

PCE is also a preferred inflation gauge for the Federal Reserve, which could end up cutting its benchmark interest once or twice this year as price growth slows down. That would be good news for Americans paying credit card bills and those who are priced out of the housing market due to high mortgage rates.

But what could be seen as a boost for Biden is likely to get lost amid the fallout of his shaky debate performance last night. When pressed on inflation Thursday, Biden incorrectly said he inherited 9% inflation from Trump. CPI hit that level in the middle of 2022, Biden's second year in office. The president also stumbled in demonstrating how the annual rate of CPI growth is now down to 3.3% and is expected to keep cooling.

CopiedShareBiden campaign co-chair says he 'lost on style, but won on substance'Elleiana GreenElleiana Green is a Digital Politics intern with NBC News

https://www.nbcnews.com/politics/live-blog/election-2024-live-updates-rcna158616

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