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Price Hikes Slowed in July; Adrienne Elrod is Interviewed about the Harris Campaign; Reservoir of Water on Mars. Aired 9:30-10a ET

Aired August 13, 2024 - 09:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

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[09:30:40]

SARA SIDNER, CNN ANCHOR: There is that piercing bell this morning. The markets just opened, and investors are reacting to brand new inflation data. The closely watched Producer Price Index indicating price hikes slowed in July.

For more on how Wall Street is reacting, CNN's Matt Egan is here. Bell just went off. Give me some sense of what this means to everyday people wondering whether or not their groceries are going to be more or less expensive.

MATT EGAN, CNN REPORTER: Yes, Sara, this is good news on the cost of living front. We're talking about wholesale inflation. This is pricing that's in the pipeline before it gets to all of us as consumers. And essentially prices are still going up but at a slower pace. And that is a relief. Look at this, 0.1 percent month over month. That beat expectations. And 2.2 percent year over year, also better-than- expected. If we look at the trend here, we could see a significant improvement. Just a month ago this was at 2.7 percent, so it's improved. But when you really zoom out, look at this, two years ago this metric was at almost 12 percent. It's hard to believe. Look at this significant improvements since then.

This is exactly what Jerome Powell and his colleagues at the Federal Reserve want to see because it's going to give them some confidence that, yes, inflation is improving. Yes, they can cut interest rates at the next meeting in September, which, of course, would be good news for all of us on main street, but also on Wall Street. And that's one of the reasons why we've seen U.S. markets open solidly higher. We see the Dow up 137 points.

The mood has really improved significantly after what was one of the wildest weeks in years on Wall Street. All of those concerns about the economy. Thankfully, calmer heads are prevailing right now.

Of course we get another big data point tomorrow. That's the Consumer Inflation Report. That's going to play a big role here in what the Fed does next.

One other point I just want to make, as far as the markets go, because I know there's been a lot of scary headlines on these markets swings. There's that thousand point drop just over a week ago. SIDNER: Last Monday. Yes.

EGAN: It is important to remember, markets are still up on the year. The Dow entering today 5 percent higher year-to-date. The S&P and Nasdaq, more than 12 percent higher. So that means everyone's 401k's should probably still be in the green. If you're like me, you have a college savings plan for your kids, it should still be up. So just another reminder here that we need to not panic and stay calm as the markets adjust to all of these moving pieces right now in terms of inflation, the Fed, the jobs market. Theres' a lot going on.

SIDNER: All of these are the things that you mentioned, and you've got this new - new point that's coming up. You expect there to be a drop in inflation, correct?

EGAN: In inflation, it is coming down. But interest rates, that's the big key. That's one of the reasons why we've seen the market move higher. It's the fact that markets are growing increasingly confident that we could get a rate cut in September, the last meeting before the election. That means a break on mortgage rates, credit card debt, car loans, student debt. That would be very good news for consumers.

SIDNER: It will be interesting and people are going to be waiting to see that.

Matt Egan, thank you so much. Appreciate it.

EGAN: Thank you, Sara.

SIDNER: Kate.

KATE BOLDUAN, CNN ANCHOR: Kamala Harris is set to lay out her economic agenda. What she might be rolling out this week and how important it is to her chances in winning the White House.

And scientists and the potential game changing discovery, water on Mars. A first of its kind discovery and what it could mean for the future of space exploration.

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[09:38:34]

JOHN BERMAN, CNN ANCHOR: This morning, the Harris campaign says the vice president will give her first economic policy speech in Raleigh, North Carolina, this Friday.

With us now, a senior spokesperson for the Harris-Walz campaign, Adrianne Elrod.

Thanks so much for being with us.

What's on the vice president's schedule today?

ADRIENNE ELROD, SENIOR SPOKESPERSON, HARRIS-WALZ CAMPAIGN: Well, she's traveling and talking to voters and getting her message out there to the American people, something that she's been doing from the very start of this campaign. It's something that she certainly did when she was President Biden's running mate as vice president.

But look, you just mentioned the speech she's going to be giving in - in North Carolina.

BERMAN: But - but - but that - I was asking about today. And I don't think she's got any campaign events on the schedule today, does she?

ELROD: Well, she and Governor Walz have been traveling across the country. They hit nearly every battleground state last week on the campaign trail. They raised $36 million within the first 24 hours of Governor Walz joining the ticket. And what she's going to be doing Friday is taking her economics message directly to the voters in North Carolina. I certainly don't want to get in front of exactly what she's going to say. But she's going to talk a little bit about how she's going to make sure that she's putting consumers first as part of her economic plan. She's going to take on corporate price gougers. She's going to take on junk fees. And that's something that, you know, John, she did when she was attorney general of California. Something she continued to do as the United States senator of California.

BERMAN: All right.

ELROD: So, she's going to be taking that message out to voters. And I look forward to seeing what she - more of what she's going to say on Friday.

BERMAN: I think we all do. And I'll ask you more about that in just a second.

The reason I was asking you about today is because it seems like she has time, if she wanted, to do an interview with a member of the media or do a news conference, correct?

[09:40:07]

There does appear to be that time if she wanted.

ELROD: Well, look, she has said on the campaign trail that she would be doing an interview at some point. She said that, I think, last week during - a during a rope line or when she was talking to reporters.

But look, what is important here, John, is that she is taking her message directly to the American people. She hat a number of battleground states. I think we had 15,000 people in Detroit last week, 12,000 to 13,000 in Nevada. She's been taking her message to the voters and drawing large crowds. So, she's actually having those direct conversations. She's using the social media platforms -

BERMAN: But not today. The - all I'm saying is not - not today. She could do an interview today, I would think, you know, because she's not out there today.

ELROD: Well, look, she could - she - she's taking her message directly to voters. And just because she doesn't have anything - an interview scheduled on her public schedule doesn't mean that she's not taking her message directly to voters about how she's going to improve their lives, how she's going to protect their economic freedoms, how she's going to expand their right as Americans into contrast to Trump and J.D. Vance, who simply want to enact the Project 2025 agenda, which would just set America back dramatically.

BERMAN: You said that she's going to unveiled his economic plan on Friday and it will be consumer driven. How does that differ specifically from what President Biden's economic agenda has been the last 3.5 years?

ELROD: Well, look, as I said, I certainly don't want to get in front of what she's going to say on Friday. But what I can tell you is a couple of things. And we did preview this.

Number one, she's going to talk a lot about price gouging, how she's going to take on big corporate interests to make sure that she's putting consumers first. And look, she's very proud of her economic agenda with President Biden, over 15.5 million jobs and counting created, four major economic bills passed. President Harris - Vice President Harris was very much part of that strategy and getting those - that legislation passed with President Biden.

But she's also going to talk about her own economic agenda, how she's going to continue to reduce costs for American families. She was very much part of making sure that insulin was capped at $35 per consumer. And also something that - that Governor Walz did when he was governor, which is also capping insulin costs.

So, the two of them are putting consumers first. They're putting American families first. This is going to be front and center of her economic agenda. And you're going to hear her talk a lot about that in more detail on Friday.

BERMAN: So, she did say in Nevada over the weekend that she does support no taxes on tips for service and hospitality workers. I believe we heard that for the first time this weekend. So, if it is something she has supported, why hasn't she put it forth in the 3.5 years she's been vice president?

ELROD: Well, you know, John, first of all, she's been the candidate for - the Democratic candidate for president for the past few weeks. So, she is putting it forward, her own agenda. She certainly, again, has many parts of President Biden's agenda that she helped pass, that she supports, but she's also going to be putting forward her own agenda. And that's something you heard her talk about when she talked about no taxes on tips in Nevada earlier this week. She's been endorsed by nearly every union, supporting workers. She was just endorsement by the culinary union in Nevada, which is a testament to the fact that she is fighting for consumers, that she is putting working families first and her campaign. A stark contrast to Trump, who is simply putting corporate interests first. He's focused on - he's made it very clear that one of the first things he would do is give big tax breaks to billionaires and if he gets back - steps one foot back in the White House. That is certainly not on Vice President Harris' agenda. And you're going to hear her talk about - more for about her economic policies -

BERMAN: All right.

ELROD: What her plans are over the next 85 or so days of this campaign.

BERMAN: I want to play a little bit of Donald Trump's interview with Elon Musk on X last night. We've already played a lot of it in this show. But one part we have not played is when he was talking about the vice president being on the cover of "Time" magazine. I want you to listen to this.

(BEGIN VIDEO CLIP)

DONALD TRUMP (R), FORMER U.S. PRESIDENT AND 2024 PRESIDENTIAL CANDIDATE: I saw a picture of her on "Time" magazine today. She looks like the most beautiful actress ever to live. I - it was a drawing. And actually, she looked very much like a great first lady, Melania. She looked - she looked -

ELON MUSK, CEO, X: Yes.

TRUMP: She didn't look like Camilla, that's right. But of course, she's a beautiful woman. So we'll leave it at that, right?

(END VIDEO CLIP)

BERMAN: You're shaking your head. What's your reaction to hearing that?

ELROD: Well, first of all, John, this is not the kind of rhetoric or language or tone that is going to turn on voters, especially those key undecided voters in swing states who want a president who's looking out for them, who want a president who is putting their interests first.

You know, you mentioned, there's a lot of other discussions that - I guess you could call it that, that Trump and Elon Musk had during this very choppy, very technically challenged interview.

[09:45:01]

By the way, I can't understand, for the life of me, why Elon Musk, every time he has one of these big X conversations, the technology never seems to work. It didn't work for DeSantis. It didn't work for Trump. He's got a lot of challenges there on that platform.

But I think, look, you've got to look at the big picture here, which is the fact that Vice President Harris is taking her message to everyday Americans, whereas Donald Trump is sitting down for a - what did he call it, like an interview of the century? A two-hour, technically challenged discussion with a billionaire. That contrast could not be more clear on this campaign.

I also wanted to just say, I worked for Hillary Clinton's presidential campaign in 2016. The sexist rhetoric is still very much alive and well. It certainly comes from Donald Trump. But that is not something that is going to deter Vice President Harris from taking her message to the voters, to putting American families front and center in this campaign. And that is something she thinks about every single day when she wakes up in this country, how am I going to improve the lives of voters? What agenda can I put forward to make their lives better? That is what - where her focus is.

BERMAN: Adrienne Elrod, great to have you on this morning. Thanks so much for being with us.

ELROD: Thanks, John.

BERMAN: Kate.

BOLDUAN: So, NASA says Mars is hiding a secret, water, and lots of it. Why this has scientists so excited and what it could mean for the future of space exploration.

And an important heart health updates. Take a deep dive - taking a deep dive into the idea of a drink, like a glass of wine a day could actually be a good thing. New data showing that it is not the case.

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[09:51:00]

SIDNER: Just in to CNN, a last-ditch effort by mediators to bring Hamas and Israel to the table on ceasefire talks. It isn't expected to thwart a potential Iranian attack. That's according to two diplomatic sources. Talks are expected to resume on Thursday. Israel has been on high alert for that attack by Iran as soon as this week.

At a setback for Robert F. Kennedy Jr.'s presidential campaign. A New York judge ruling his petition to be on the state ballot is invalid. The judge says Kennedy violated state law by listing a New York address as his residence while actually living in California. Kennedy's attorneys plan to appeal, saying he did not intentionally mislead voters.

And a new study finds older adults do not benefit from moderate alcohol consumption and that even light drinking could increase the risk for cancer. The study out of Britain tracked 135,000 adults age 60 and older for 12 years. And apparently even just a little bit of alcohol consumption is not good for the heart. Researchers found no reduction in heart disease among light or moderate drinkers.

And CNN's Kaitlan Collins made a special appearance on "The Late Show with Stephen Colbert." They talked about the moment that flipped the presidential race and what happened in an Uber after President Joe Biden announced he was dropping out of the presidential race.

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KAITLAN COLLINS, CNN ANCHOR: We wanted to know, you know, what was Trump's reaction to this major news that has totally changed the presidential race for him. So, I called Donald Trump. And I don't have my headphones, so I put it on speaker in the backseat. And I'm - I'm writing down his quotes -

STEPHEN COLBERT, HOST, "THE LATE SHOW WITH STEPHEN COLBERT": The guy doesn't know who you are or anything?

COLLINS: No, no. No, no. The Uber driver - like, Trump's voice is like booming through. He - like, he knows why I'm calling and - and what quotes I wanted. The Uber driver is like turning around. He's like so confused. He's like looking at me. He's looking at my phone. He's like, is that whose voice I think that is? And I just like sprinted out of the Uber and like eight hours later when we got off air I like checked the - the app to make sure I tipped him and hopefully he gave - I don't know, maybe he gave me one star, maybe five. TBD.

(END VIDEO CLIP)

SIDNER: What she didn't know is the Uber driver broke the news to all his friends. I mean, that's what happened, probably, maybe.

Kate.

BOLDUAN: But what impact did it have on her Uber rating?

SIDNER: I mean -

BOLDUAN: That is the question.

SIDNER: That is a good one.

BOLDUAN: TBD. TBD. That's a follow-up question.

SIDNER: It depends on that tip. You know what I'm saying?

BOLDUAN: That's a follow-up question.

OK, so, a first of its kind discovery, water on Mars, and lots of it. Scientists believe that there could be enough water trapped in the rocks on the red planet that it could cover that entire planet in water as deep as a mile.

CNN's Kistin Fisher has much more on this.

How did they find this, Kristin?

KRISTIN FISHER, CNN SPACE AND DEFENSE CORRESPONDENT: With a little lander called Insight, Kate. I mean this idea that deep pools of water exist deep below the surface of Mars, that's been around for decades. But this is the first time that NASA has had real hard data to back up that belief. And so what we're talking about here is enough groundwater to fill the surface of Mars about a mile deep. And the reason that this is so exciting to scientists, Kate, is because this is exactly the kind of place where if there is life on Mars, this is where it could be because if you just look at those types of conditions here on earth, that is where life thrives. In fact, many scientists believe that that is where life originated from on earth, these deep pools of water within the earth's surface.

So, that's the big, exciting possibility here.

But in terms of actually getting to that water, it's going to be tough because this water is believed to be between seven and 12 miles beneath the martian surface. And so in order to get up there and drill that deep into Mars, you know, it would take some pretty heavy infrastructure, a huge drill. And right now, the only types of spacecrafts that are landing on Mars are really small ones without that kind of technology to drill that deep.

[09:55:08]

So, we're still a little ways away from being able to actually find that water and test it, Kate. But the way they were able to find what they believe is this water is through the Insight lander, which landed with a seismometer, which is used to detect earthquakes here on earth. On Mars they are called Mars quakes. And the Insight lander was the very first spacecraft to ever detect an earthquake on another celestial body, or a Mars quake in this case. And through that data of the seismometer going through different layers of rocks on Mars, that's how they were able to determine that this - what they believe is this vast pool of water deep beneath the surface, Kate.

BOLDUAN: That's fascinating. So many things I truly do not understand.

BERMAN: But I will say, in terms of it being hard to drill -

BOLDUAN: Thank you, Kristin.

BERMAN: I mean, Bruce Willis and Ben Affleck, I've seen "Armageddon."

BOLDUAN: You've just got to ask Bruce. You've just got to ask Bruce.

BERMAN: Yes, there is a way to drill in space, (INAUDIBLE).

BOLDUAN: Yes. Yes.

SIDNER: This is what we're doing? This is what we've resorted to. Good times.

BERMAN: Thank you all for joining us. This has been CNN NEWS CENTRAL with Kate Bolduan and Sara Sidner and John Berman.

"CNN NEWSROOM," in case you're wondering, is up next.

BOLDUAN: I just want you to point to the wrong person.

SIDNER: Want me to tell you to point?

BERMAN: Yes.

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