Good morning, Broadsheet magazine readers! Former Federal Reserve economist Claudia Sahm says the US is not yet in a recession, but close to it, Citigroup and ICAP face harassment lawsuit, and Kamala Harris chooses her vice president.
– From Veep to Veep. As you probably already know, Vice President Kamala Harris has selected Minnesota Governor Tim Walz as her running mate on the Democratic ticket. The choice puts Harris – who would be the first Black woman and first South Asian president – alongside a white male running mate, as expected.
Identity aside, Walz is an interesting choice for Harris, who reportedly chose the 60-year-old from a field of final candidates that included Pennsylvania Gov. Josh Shapiro. Here are a few things to know about Harris’ new running mate:
—He was a former high school social studies teacher. While teaching, he also coached football and served as a faculty advisor for his school’s Gay-Straight Alliance since the 1990s.
—His wife, Gwen Walz, was also a teacher before becoming the First Lady of Minnesota and championing criminal justice reform.
—Harris reportedly chose Walz in part because she admired his record as governor, a post he has held since 2019 after beginning his political career with a surprise victory over an incumbent Republican in 2006. In Minnesota, he helped preserve access to reproductive health care, passed gun safety reform, and introduced a new child tax credit and paid leave policy.
– He kicked off a new “strange” series of messages from Democrats about their GOP rivals Donald Trump, JD Vance and the Republican Party.
— The Walzes chose IVF to conceive their two children. One of them was named Hope because the couple felt hope after an arduous fertility journey. Walz is a vocal supporter of IVF and a critic of Vance’s stance on reproductive health.
—And here’s another bonus: A Harris-Walz candidate victory would mean Minnesota would have its first female governor; Lieutenant Governor Peggy Flanagan would take over the post and would also be the state’s first Native American governor.
Kyle Mazza/Anadolu – Getty Images
While President Joe Biden turned to Harris in 2020 to balance his platform with a younger candidate who resonated with diverse voters, Harris was tasked with the opposite in 2024 (even though, at 59, she’s been in public service for decades). She and Walz are nearly the same age — and he has poked fun at his older appearance. “(I) ran the cafeteria for 20 years. You don’t leave that job with a full head of hair,” he posted on X a few weeks ago.
In addition, Walz’s Midwestern credibility has helped reassure some Democrats who feared Harris’s California career would limit her appeal to voters in the heartland. Walz emphasized his Midwestern background yesterday in comparison to Republican vice presidential candidate Vance, in the Harris-Walz duo’s first public appearance.
There will certainly be much more to report on the Harris-Waltz election results in the coming weeks. Stay tuned as we continue to report on this historic election.
Emma Hinchliffe
[email protected]
The broadsheet is Assets’s newsletter for and about the most powerful women in the world. Today’s edition was curated by Nina Ajemian. Subscribe here.
ALSO IN THE HEADLINES
– Stay calm. Claudia Sahm, a former Federal Reserve economist known for the “Sahm rule” regarding recessions, said the U.S. is “uncomfortably close” to a recession, although the country is not yet in one. “In a moment like this, calm is important,” she advises. Assets
– Toxic culture. ICAP and Citigroup, as well as their chief executive Jane Fraser, have been sued by an ICAP supervisor and a Citigroup trader. Christine O’Reilly claims she was sexually harassed for years by Benjamin Waters, a trader at the bank. Waters (who is not named as a defendant in the suit), ICAP and Citigroup all declined to comment. Bloomberg
– Listen Li. Fei-Fei Li, the “Godmother of AI,” argues in a new opinion piece that California’s AI law SB-1047 will harm the AI ecosystem. “AI policy must encourage innovation, set appropriate restrictions, and mitigate the impact of those restrictions,” she writes. Assets
– End of an era. The world’s longest-serving female politician was an autocrat whose government oversaw extrajudicial killings and electoral fraud: Bangladesh’s Prime Minister Sheikh Hasina. Hasina was ousted this week amid a growing protest movement; 300 people were killed during the three weeks of protests. Financial Times
MOVERS AND SHAKERS
CBS News and Stations has expanded Adrienne Roark And Jennifer Mitchells roles. Roark will now be president of editorial and news gathering. Mitchell will be president of broadcast and digital. Previously, Roark was president of content development and integration. Mitchell was president of CBS broadcast stations (West Coast and Midwest).
Intrepid Travel appointed Payton Iheme Chief Impact Officer. Most recently, she served as Vice President and Head of Public Policy at Bumble. She has also held senior positions at Facebook, in the U.S. Senate, and in the Obama administration.
Parity, a sponsorship platform for women in sport, appointed Mandy Anderson as Vice President Sales. Most recently, she was Senior Vice President Client Relationships at 4media group US.
Gelato added Aarthi Ramamurthy And Jessica Dannemann as board members. Ramamurthy is currently Chief Technology Officer and Product Officer at Rithium. Dannemann is Chief Partner Officer at Optimizely.
ON MY RADAR
Cori Bush is the second Squad member to be eliminated in a primary election Politico
Tessa Bailey just wants you to have a good time The cut
What do we really know about the maternal mortality crisis? The Atlantic
HYPHENOMS
“But I told people back then: I don’t want you to vote for me because I’m a woman, and I don’t want you to vote against me because I’m a woman.”
— Nancy Pelosi, former Speaker of the House of Representatives, talks about her new book on NPR’s Everything taken into consideration
