1 week Ago
As U.S. Rep.
Ashley Hinson defends her seat in Northeastern Iowa, the Republican incumbent has spent time on the campaign trail linking her candidacy with that of former President Donald Trump’s 2024 run. Trump has endorsed her reelection campaign. “Under President Trump we will secure the border.
We will deport these dangerous illegals, and we will make America safe again. And that is a promise,” she said to applause in August during her annual "BBQ Bash" fundraiser in Cedar Rapids. Hinson took aim at the Biden-Harris administration’s gender equality rules in education.
She praised Gov. Kim Reynolds and Republican state lawmakers for banning transgender athletes competing in girls sports at the high school and college levels, cutting taxes and passing a law — since blocked in federal court — that would allow Iowa law enforcement to arrest and charge noncitizens with a crime if they are in the state but have previously been blocked from entering the country or deported. A judge then would be able to order the person to leave the country or face prison.
The two-term incumbent, who is seeking a third term, faces Democrat Sarah Corkery, 49, a breast cancer survivor, disability rights advocate and Cedar Falls small-business owner, in the Nov. 5 election for Iowa’s 2nd Congressional District. Jody Puffett, 59, of Delhi, is running unaffiliated with a political party and also will appear on the ballot alongside Corkery and Hinson.
Hinson, 41, of Marion, and her campaign seldom mention her Democratic opponent, focusing her messaging and attacks instead on the Democratic Biden-Harris administration. “I think it goes without saying, but I believe my opponent would be lockstep with a Harris-Walz administration,” Hinson told The Gazette of the Democratic presidential nominee, Vice President Kamala Harris, and her running mate, Minnesota Gov. Tim Walz.
Audience members watch and take videos of U.S. Rep.
Ashley Hinson performing on her fiddle during Ashley Hinson’s BBQ Bash at Hawkeye Downs in Cedar Rapids, Iowa on Saturday, Aug. 3, 2024. (Savannah Blake/The Gazette) “.
.. I'm out there telling that story, because this election is about a contrast” between what she described as an unsecured U.
S.-Mexico border, weakened U.S.
foreign policy and global security, wasteful spending, and supporting a Trump administration focused on lowering taxes, boosting the economy and securing the Southern border. The former state lawmaker and former KCRG-TV news anchor flipped a blue seat red in 2020 by campaigning on kitchen-table issues and pledging to be a taxpayer advocate in Congress. Hinson won re-election in 2022 by 8 percentage points against Democratic former state lawmaker Liz Mathis of Hiawatha.
This time, she faces vastly underfunded first-time candidates running grassroots campaigns. Corkery has focused her campaign on women's health care rights and public education. She regularly attacks Hinson for supporting legislation limiting women’s ability to receive an abortion.
Iowa’s 2nd District encompasses 22 counties in Northeast Iowa, including Cedar Rapids, Waterloo, Cedar Falls and Dubuque. The race is expected to be less competitive than contests in the 1st and 3rd congressional districts that are also up for election. A Des Moines Register/Mediacom Iowa Poll showed in September more likely Iowa voters preferred a Republican candidate over a Democrat in three of the state’s four congressional districts, including the 2nd District.
The independent, non-partisan Cook Political Report rates Iowa’s 2nd District as a “solid Republican” R+4 district, meaning that in the 2016 and 2020 presidential elections, voters in the district supported Republican candidates an average of about 4 points more than the nation did as a whole. The latest figures from the Iowa Secretary of State’s Office show there are nearly 150,000 active registered Republican voters, more than 127,000 active registered Democrats, nearly 130,000 active no-party voters, and 2,400 active registered Libertarians in the district. U.
S. Rep. Ashley Hinson speaks a crowd about voting during Ashley Hinson’s BBQ Bash at Hawkeye Downs in Cedar Rapids, Iowa on Saturday, Aug.
3, 2024. (Savannah Blake/The Gazette) Hinson has a large fundraising advantage over Corkery. National Democrats have not targeted the race in the same way they have in the 1st and 3rd districts, leaving Corkery with little outside support.
That has afforded Hinson the ability to crisscross the country and state to help boost other Republican candidates and position herself for a role among House Republican leadership should New York Rep. Elise Stefanik, one of the top GOP ranking leaders in Congress, be tapped to serve in a new Trump administration. Hinson, who sits on the House Appropriations Committee, said a priority is reducing inflation by slowing government growth and spending, reducing taxes and “regulatory burdens” on small businesses, and supporting targeted investments like airport expansion projects “that helps to churn economic development and growth and investment all around The Eastern Iowa Airport.
” Hinson has blamed trillions in “wasteful spending” approved by Democrats in pandemic stimulus money, clean energy and climate mitigation investment programs for worsening inflation — creating a surge of consumer spending that collided with supply problems to boost prices. She supports extending Trump-era tax cuts for small businesses, which are set to expire at the end of 2025. She also introduced legislation that would require federal departments and agencies to cut two existing rules for each new rule issued and offset any costs imposed by new rules while operating under a regulatory cost cap.
Securing the Southern border is another of Hinson’s priorities. She said the federal government’s top priority on border security needs to be to “deport the dangerous illegals in this country” and secure the border by working with U.S.
Immigration and Customs Enforcement before focusing on reforming the immigration and visa systems. “Well, I agree the immigration system in this country is broken, but what has happened under the Biden-Harris administration is unacceptable and it's unsafe,” Hinson told The Gazette, citing reports that border-crossers with terrorist ties were released into the United States before they were later arrested. “Not to mention the strain that 10 million-plus illegal immigrants puts on our country and our services.
And I think that's I think that's wrong,” she said. During a debate last Monday on Iowa PBS, she spoke about seeing the impacts of immigration and illegal border crossings on Iowa communities, pointing to anecdotes about higher rates of people who do not speak English requesting translation or English education services. Trump has said he would invoke emergency wartime powers, activate military reservists and rely on the support of like-minded Republican governors to carry out the largest mass deportation of undocumented migrants in U.
S. history. Hinson said she supports mass deportation measures through coordinated efforts with ICE.
However, that can’t be done without more support at the federal level. “We need to allow and empower ICE to do their job, because this is a problem that is truly affecting the American economy and American communities. Every community is a border community right now,” Hinson said during last week’s debate.
Corkery argued that Hinson should have supported a bipartisan plan in the U.S. Senate to secure the border that was thwarted by Trump and his supporters.
The deal called for increased funding for detention beds, Border Patrol agents, asylum officers and immigration judges. It would also reinforce new restrictions on migrants seeking asylum, and other reforms. Hinson supported a 2023 House GOP-led measureto increase border security — a separate measure from the bipartisan deal.
It would end the practice of "catch and release," in which Border Patrol agents release migrants into the United States while they await immigration hearings, and impose new limits to asylum eligibility. Republican U.S.
Rep. Ashley Hinson photographed at Mr. Beans in Marion, Iowa, on Monday, September 30, 2024.
The two-term incumbent faces Democratic challengers Sarah Corkery in the Second Congressional District in Iowa. (Jim Slosiarek/The Gazette) Hinson said she opposed the Senate deal because it would not mandate a border closure until Border Patrol reached a seven-day average of 5,000 or more border encounters, or if the number exceeded 8,500 in a single day. She also noted her support of an appropriations bill that includes funding for drone technology and automated surveillance towers to act as a force multiplier to aid Border Patrol.
Hinson has been a proponent of Iowa’s current law banning abortion as early as six weeks into pregnancy after cardiac activity is detected. The law includes limited exceptions for some cases of rape and incest, to protect life or health of the mother, or a fetal abnormality judged by a doctor to be incompatible with life. She said she would not support a nationwide abortion ban at the federal level without those exceptions.
However, in January, she cosponsored the Life at Conception Act, which would establish legal protections for fetuses and embryos at “the moment of fertilization,” and guarantee a “right to life” for every human being. While the bill — which never made it to the House floor — does not specifically mention abortion, critics say it would undoubtedly restrict the medical procedure as well as in vitro fertilization. The bill does not spell out protections for fertility treatments or exceptions for cases involving rape, incest or to save the life of the mother.
Hinson said she would not vote for the bill as it's now written because it does not contain those exceptions, and noted her efforts in the appropriations process to provide more IVF access to government workers. “I support policies that are going to help protect life and help people grow their families first and foremost,” Hinson told The Gazette. “.
.. So what I said earlier about supporting exceptions for rape, incest, life of the mother, fetal anomaly, I would want to make sure that the same protections exist for IVF .
.. before it would get a vote on the floor from me.
” Asked whether she would continue to support aid to Ukraine while a sizable portion of her party would not, Hinson noted she’s supported some foreign aid packages and opposed others. She said her biggest concern is that she does not want American troops fighting Russia in Ukraine. “I believe in America first, but not America alone,” Hinson said.
During the debate, she said Russian President Vladimir Putin is a “thug” who “cannot be allowed to win this war.” She also told The Gazette the United States needs to stand with its allies in Israel “and make sure they have the resources they need.” Bipartisanship Hinson’s latest TV ad aired last week.
It portrays the sophomore congresswoman as willing to work on bipartisan issues. The ad features Iowans who say they support Hinson because of her “bipartisan record of results.” She has partnered with Democrats to co-sponsor and pass various forms of legislation, including the Maternal and Child Health Stillbirth Prevention Act and Sgt.
Ketchum Rural Veterans Mental Health Act signed into law by President Joe Biden. Corkery and Iowa Democrats, however, note Hinson voted against the bipartisan infrastructure law and capping the price of insulin. Hinson has said government price controls ultimately will raise premiums for Americans.
Instead, she said she favors another bill with several bipartisan provisions that would cap out-of-pocket insulin costs for seniors on Medicare Part D, allow high-deductible plans to cover insulin costs before the deductible kicks in, increase transparency for patients and promote health care innovation. Hinson has said she opposed the infrastructure bill because of its large price tag, and has advocated for and helped secure funding for targeted infrastructure updates and various projects in the district. The Republican incumbent has also highlighted her work to expand access to maternal care for women in rural areas, expand the child tax credit for working families, provide additional resources for expecting mothers and support young families.
“I think if you look at my record of success for Iowans, I have continued to deliver even in divided government,” Hinson said. “..
. I've stood up against an administration that I think has a incessant desire to spend money and eventually raise taxes in the (Inflation Reduction Act). .
.. So I will continue to be an advocate for Iowa taxpayers, an advocate for rural America and an advocate for safety and security in our communities.
” The U.S. Presidential elections are approaching, and although there are many political and societal factors that may determine the outcome of an election, November 2024 may be affected by economic factors.
Voters are closely monitoring the economy due to the high inflation experienced in the aftermath of COVID-19. To combat inflation, the Federal Reserve has raised interest rates 11 times since April 2022. Although inflation has declined from its 2022 peak, it remains a concern in certain sectors, explains OANDA 's market analyst Moheb Hanna.
In a year where monetary policy decisions by world central banks continue to dominate headlines, the Federal Reserve has only recently made its first cut since 2020, cutting rates by a staggering 50 basis points. This more "cautious" approach contrasts those of the European Central Bank and the Bank of Canada, who opted to reduce interest rates much earlier in the year following a steady decline in inflation indicators. In the post-COVID period, the U.
S. has experienced strong economic growth and a robust job market, outperforming global economies. Recent data, however, indicates that Americans are spending more cautiously, seeking bargains, and reducing leisure spending.
As the world's reserve currency, the U.S. dollar often experiences fluctuations in value due to various factors.
This volatility is expected to increase around the U.S. elections as global currencies and commodities are priced against the dollar.
Moreover, the Federal Reserve's November meeting , scheduled during the election week, will likely amplify market volatility due to anticipated interest rate decisions and economic announcements. The anticipated market volatility surrounding the election may present diverse trading opportunities across various currency pairs and timeframes. Prolonged uncertainty or delayed election results could extend this period of heightened volatility, potentially offering even more trading prospects.
As the November 2024 presidential election approaches, traders are likely anticipating numerous election-driven trading opportunities in the currency markets. Some traders may also position themselves ahead of the election, therefore, volatility may have already started. 1.
USD/MXN: Price action during 2016 and 2020 U.S. elections, Mexico's elections, USMCA agreement and COVID-19 The Mexican peso has been a strong performer over the past two years, primarily due to high interest rates, economic growth, and increased cooperation with U.
S. businesses. This has presented a significant carry trade opportunity, with Mexico's interest rate at 11.
25% compared to the U.S. dollar's 5.
50%. Although the peso has experienced fluctuations, including a 37% rise against the USD from March 2020 to July 2023 and a subsequent rebound to 18.10 in June 2024, it remains an attractive investment for some investors.
Pre-election positioning, driven by factors like interest rate differentials and differing inflation rates between the two countries, may influence the USD/MXN exchange rate. Historical trends show varying peso responses to U.S.
elections, with potential implications depending on whether Harris or Trump wins. While Harris's win might maintain the status quo, Trump's win could reintroduce tariff concerns. Additionally, Mexico's strong economic ties with the U.
S., particularly through the USMCA, add another layer of complexity to the USD/MXN relationship. 2.
USD/JPY: Price action during 2016 and 2020 US elections, FOMC Interest Rate hikes and Bank of Japan intervention In March 2024, the Bank of Japan (BOJ) concluded its extensive monetary easing program, including its negative interest rate policies, which had been in place for over eight years. The central bank maintained its interest rate at 0.10%.
Traders are now closely watching for any signals from the BOJ regarding quantitative tightening (QT), as the bank is expected to gradually reduce its bond holdings. This process, if not carefully managed, could potentially disrupt the market. To mitigate this, the BOJ might opt to reduce bond purchases at a slower rate than their holding expiration, a strategy requiring cautious execution.
The Japanese yen is currently trading near its lowest point versus the dollar in 38 years, and at a level not seen since 1986, worrying traders. Despite both the U.S.
and Japan maintaining their interest rates for a prolonged period, the yen has continued to weaken against the dollar, contributing to market uncertainty. As a result, and in a measure to stop "excessive fluctuations driven by speculation," the Bank of Japan is known to have intervened at least once in recent history, aiming to prop up yen prices. Owing to abnormalities in price action, some traders have speculated that market intervention has happened more than just once, but the BOJ has yet to officially confirm.
Although the BOJ is in a rate-raising mode and the Fed is expected to cut rates, the interest rate differential between the U.S. dollar and the Japanese yen remains appealing.
Carry trades on USD/JPY can still offer returns for long-term investors, though these returns may be lower than other carry trade opportunities. However, they might also involve less risk compared to other available carry trade pairs. 3.
EUR/USD: Price action during 2016 and 2020 US elections The EUR/USD is the most frequently traded currency pair in the foreign exchange markets. During events that impact global markets, like the U.S.
elections, the euro tends to be more susceptible to market risks. This is primarily due to changes in U.S.
interest rates affecting the U.S. dollar, rather than the euro itself.
EU inflation has seen a recent uptick in May 2024, rising to 2.6% year-on-year, primarily driven by energy costs. This follows a period of steady decline since its peak in March/April 2022.
The ECB, having already reduced interest rates by 25 basis points on June 6th, 2024, is now faced with the challenge of balancing inflation control with potential future rate cuts. The latest inflation increase, while bringing the indicator closer to pre-pandemic averages, adds complexity to the ECB's decision-making process. Historically, the euro has reacted to shifts in US leadership.
It initially declined under Trump's presidency, falling 8.5% to 1.0320.
However, it later rebounded, reaching 1.2550 against the dollar. A sharp drop occurred in early 2018, finding support above 1.
0600 during COVID-19, followed by another rise to 1.2200. With Biden's inauguration and the onset of the Ukraine war, coupled with FOMC interest rate hikes, the euro experienced a significant decline of 22.
80%, reaching below parity at 0.9600. It has since partially recovered, trading within the 1.
0550 – 1.1200 range in early 2023. 4.
USD/CAD: Price action during 2016 and 2020 US elections, USMCA agreement and COVID-19 Canada, a major economic partner of the USA, has a highly correlated economy. The USD/CAD exchange rate is influenced by interest rates in both countries and oil prices , as Canada is a significant oil producer and a member of OPEC+. As Trump took office in January 2017, and when Biden did in January 2021, the Canadian dollar rose significantly against the U.
S. dollar as an initial reaction, and in both cases, the exchange price returned to its pre-election levels. Under the Trump administration, the USD/CAD rate remained relatively stable during the negotiation and implementation of the United States-Mexico-Canada Agreement (USMCA), which took effect on July 1st, 2020.
However, anticipatory market positioning was evident before that. Canadian inflation has followed global trends, rising post-COVID and then declining sharply after peaking around 8% in mid-2022. By early 2024, key inflation measures remained below 3%.
This decline, coupled with weaker-than-expected economic growth, led to anticipation of the Bank of Canada's actions. On June 5, 2024, the Bank of Canada became the first to cut interest rates by 25 basis points. Governor Tiff Macklem emphasized data-driven decision-making for future adjustments.
Despite strong retail sales over the past five years, recent months have shown a decline in specific categories, suggesting consumer caution and potential delays in interest-sensitive purchases. This trend is noteworthy as it coincides with a slowdown in Canada's GDP growth since late 2021. This story was produced by OANDA and reviewed and distributed by Stacker Media.
Age: 41 Party: Republican Town of residence: Marion Occupation: Member of the U.S. House and former journalist/news anchor Political experience: Hinson served in the Iowa House from 2017 to 2021.
She won a seat in the U.S. House in the 2020 election, defeating incumbent Democrat Abby Finkenauer.
Campaign website: ashleyhinson.com/home Stay up-to-date on the latest in local and national government and political topics with our newsletter..
