Washington Today (11-7-24): President Biden pledges peaceful transfer of power to Pres.-elect Trump

President Joe Biden promises a "peaceful and orderly transition" to the next administration led by Republican President-elect Donald Trump, saying in a White House Rose Garden statement, "We accept the choice the country made" and "you can't love your country only when you win."

President Biden also offers words of encouragement to Democrats upset by Vice President Kamala Harris' loss, telling them, "Setbacks are unavoidable, but giving up is unforgivable."

Defense Secretary Lloyd Austin sends a memo to troops and department personnel about the presidential transition, writing the U.S. military will continue to be above politics and ready to carry out the policy choices and obey lawful orders of its next Commander in Chief. We will hear from the Pentagon Deputy Press Secretary and from the State Dept spokesperson on presidential transition preparations there.

The Federal Reserve cuts interest rates by 0.25%. Federal Reserve Chair Jerome Powell is asked about suggestions from some Donald Trump advisers that he resign. He says he will not.

Sen. Tammy Baldwin (D-WI) gives a victory speech, now that her very close reelection race has been called in her favor by Associated Press. AP also calls the Pennsylvania U.S. Senate election for David McCormick (R) over Sen. Bob Casey (D), but Sen. Casey says there are still more votes to count.

The 118th Congress lame-duck session begins next week. We will talk with Politico reporter Anthony Adragna about the agenda, including government spending, the defense policy bill and judicial nominations. (37)

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