Trump favored in markets betting on DeSantis for 2024 Republican nomination as ex-president speaks in DC

Former President Donald Trump is far ahead of his closest potential Republican competitor in the 2024 betting markets as he prepares to deliver a keynote speech in Washington on Tuesday, his first return to the capital since leaving the White House.

With Trump suggesting he will declare a 2024 candidacy, he is 10 points ahead of Florida Governor Ron DeSantis in the latest PredictIt show. Former Vice President Mike Pence, who is also a potential GOP nominee, trails both men with just a 5% chance of winning the party’s presidential nomination.

In a week featuring both a Federal Reserve interest rate decision and important data on the U.S. economy, Trump is scheduled to speak at the America First Agenda Summit, a program of America First Policy Institute. This nonprofit is run by Brooke Rollins, who headed Trump’s White House Domestic Policy Council. Former National Economic Council director Larry Kudlow serves as vice chairman of the institute’s board.

Trump has openly flirted with, but not declared, a 2024 campaign. That would subject him to campaign finance requirements. Trump’s odds of winning the GOP nomination dipped only slightly — to 44% — after July 21, when the House committee investigating the January 6, 2021, attack on the U.S. Capitol by supporters of Trump held a prime-time hearing. They are now back at 45%, compared to 35% for DeSantis.

That’s a reversal from just over a month ago, when DeSantis’ odds surpassed those of the former president.

Lily: Betting markets favor DeSantis over Trump for 2024 Republican presidential nomination as Elon Musk voices support for Florida governor

Trump has denied any responsibility or wrongdoing in connection with the attack, which the chairman of the bipartisan select committee called a coup attempt.

The former president is due to speak on Tuesday afternoon. The agenda doesn’t outline what he will say, but Politico reported that his allies were eager for him to present a game plan for 2024.

Trump will speak a day before the Fed’s interest rate decision, in which the central bank is expected to raise rates by 0.75 percentage points. Thursday the government will release the second quarter gross domestic product and Friday will bring inflation data for June.

Now see: Wednesday’s Fed meeting will be analyzed for these 4 things

As MarketWatch reported, Republicans are expected to score victories in November’s midterm elections, largely due to Americans’ frustrations with runaway inflation. The White House Biden, meanwhile, has played down the risk of a U.S. recession, with Treasury Secretary Janet Yellen citing healthy hiring as evidence.

DJIA US stock indices,
+0.28%

SPX,
+0.13%
fell Monday night as investors eyed a week filled with monster earnings and the Fed’s policy meeting.

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