Aug 29, 2018

ActBlue raised $100 million for Democratic candidates in August

Photo: Ethan Miller/Getty Images

The online fundraising platform ActBlue raised $100 million in August for Democratic candidates, marking their biggest fundraising month since they launched in 2004.

Why it matters: Liberal activists and donors are showing no signs of slowing down before the 2018 midterm elections.

The backdrop: Over 2.2 million contributions, including 7,350 campaigns and organizations, all led to this month's $100 million raised.

  • "Were seeing that energy across the board, and [donors] are only ramping up for what's to come," said Erin Hill, ActBlue's executive director.
  • The group raised $91 million in June and $83 million in July.
  • They previously announced raising a total of $1 billion this cycle for Democratic candidates.
  • 61% of donors this cycle are women, Hill told Axios, up from 54% in 2016.

Some of the candidates who benefit most from ActBlue's platform include Beto O'Rourke running for U.S. Senate in Texas, as well as Democratic gubernatorial candidates Stacey Abrams in Georgia, Andrew Gillum in Florida, Tony Evers in Wisconsin, Rich Cordray in Ohio, and Gretchen Whitmer in Michigan. 

Go deeper: Most campaign contributions come from outside candidates' districts.

Go deeper

Scoop: Top NSC official reassigned to Energy Department amid "Anonymous" fallout

Photo: Mark Wilson/Getty Images

Deputy national security adviser Victoria Coates will be reassigned as a senior adviser to Energy Secretary Dan Brouillette, the National Security Council said Thursday — and a senior White House official said that the administration "rejects" the rumors that she is "Anonymous."

Why it matters: Coates has battled claims that she is the still-unknown Trump administration official that penned a New York Times op-ed and book critical of President Trump.

The Fed may be setting the table for 2020 rate cuts

Illustration: Sarah Grillo/Axios

The Fed looks to be laying the groundwork to lower U.S. interest rates this year, just as they did in April 2019 before cutting rates in July, September and October.

Why it matters: A Fed rate cut makes taking on debt more attractive for U.S. consumers and businesses, helping to juice the economy, but also puts the central bank in a weaker position to fight off a potential recession.

Morgan Stanley to buy E*Trade in a $13 billion deal

Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images

Morgan Stanley is planning to buy E*Trade Financial Corp. in a $13 billion all-stock deal, the Wall Street Journal reports, with plans to acquire the company known for helping everyday Americans manage their money.

Why it matters: The deal, which would be the largest by a major American bank since the financial crisis, signals Morgan Stanley‘s desire to bulk up in wealth management.