apa citation quote from speech

APA 7th Referencing

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Speeches format

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Speech from an edited book

Reference the source in which you found the speech.

Reference elements

In-text citation

• Citations need to include both the original author of the speech and the secondary source in which the speech was found (e.g. an edited anthology of speeches).
• In the reference list, you will need to cite only the secondary source (i.e. the edited book) in which you found the citation.

Speech from a web source

• If you want to acknowledge the speech's title, make sure to do so in  italics . 

Speech from YouTube

• Citations need to include both the original author of the speech and the secondary source in which the speech was found (e.g. an edited anthology of speeches). 
• Because the British Broadcasting Corporation is known in its abbreviated form, the 2nd citation onwards should be shortened to BBC (2020) or (BBC, 2020). See:  in-text citation formats  for more information. 
• When quoting directly from a YouTube video, provide a time stamp.
• In the reference list, you will need to cite only the secondary source (i.e. the YouTube video ) in which you found the citation. 
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Research Guide: Citations

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Verbal Citations in Speeches and Presentations

What should you include in a verbal citation, when you give a speech....

(click on image to enlarge)

Why cite sources verbally?

• to c onvince your audience  that you are a  credible  speaker.  Building on the work of others lends authority to your presentation
• to prove that your information comes from solid,  reliable sources that your audience can trust.
• to give credit to others for their ideas, data, images (even on PowerPoint slides), and words to  avoid plagiarism.
• to  leave a path for your audience  so they can locate your sources.

What are tips for effective verbal citations?

When citing books:

• Ineffective : “ Margaret Brownwell writes in her book Dieting Sensibly that fad diets telling you ‘eat all you want’ are dangerous and misguided.” (Although the speaker cites and author and book title, who is Margaret Brownwell?  No information is presented to establish her authority on the topic.)
• Better : “Margaret Brownwell, professor of nutrition at the Univeristy of New Mexico , writes in her book, Dieting Sensibly, that …” (The author’s credentials are clearly described.)

When citing Magazine, Journal, or Newspaper articles

• Ineffective : “An article titled ‘Biofuels Boom’ from the ProQuest database notes that midwestern energy companies are building new factories to convert corn to ethanol.” (Although ProQuest is the database tool used to retrieve the information, the name of the newspaper or journal and publication date should be cited as the source.)
• Better : “An article titled ‘Biofuels Boom’ in a September 2010 issue of Journal of Environment and Development” notes that midwestern energy companies…” (Name and date of the source provides credibility and currency of the information as well as giving the audience better information to track down the source.)

When citing websites

• Ineffective : “According to generationrescue.org, possible recovery from autism includes dietary interventions.” (No indication of the credibility or sponsoring organization or author of the website is given)
• Better : “According to pediatrician Jerry Kartzinel, consultant for generationrescue.org, an organization that provides information about autism treatment options, possibly recovery from autism includes dietary interventions.” (author and purpose of the website is clearly stated.)

Note: some of the above examples are quoted from: Metcalfe, Sheldon. Building a Speech. 7th ed. Boston: Wadsworth, 2010. Google Books. Web. 17 Mar. 2012.

Video: Oral Citations

Source: "Oral Citations" by COMMpadres Media , is licensed under a Standard YouTube License.

Example of a Verbal Citation

Example of a verbal citation from a CMST 238 class at Green River College,  Auburn, WA, February 2019

What to Include in a Verbal Citation

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Answered By: Gabe Gossett Last Updated: Oct 13, 2021     Views: 75166

Citing a speech depends on the format in which you accessed that speech. For example, if you read a text transcript of a speech, you should cite it as a speech transcript:

Lincoln, A. (2019). Gettysburg address [Speech transcript]. American Rhetoric.  https://www.americanrhetoric.com/speeches/gettysburgaddress.htm (Original work published 1863)

• Parenthetical Citation: (Lincoln,1863/2019)
• Narrative Citation: Lincoln (1863/2019)
• Note: In the reference entry, the first date in the reference entry is associate with the work where the transcript is published. For more info see the APA Style Guide on Transcripts .

If you watched a speech on YouTube, you would cite it as a streaming video:

CNBC Television. (2021, April 28). President Joe Biden delivers his first state of the Union address . [Video]. YouTube. https://www.youtube.com/watch?v=dggKaPXt0gI

• Parenthetical Citation: (CNBC, 2021)
• Narrative Citation: CNBC (2021)
• Note: The person or organization who uploaded the video is considered the author. For more information see pg. 344 of the APA 7th Edition Style Guide (2020)

If you listened to a speech as an audio recording, you would cite it as a speech audio recording:

King, M.L., Jr. (1963, August 28). I have a dream [Speech audio recording]. American Rhetoric. https://www.americanrhetoric.com/speeches/mlkihaveadream.htm

• Parenthetical Citation: (King, 1963)
• Narrative Citation: King (1963)
• Note: This example was sourced from pg. 346 of the APA 7th Edition Style Guide (2020)

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Answered By: Events Calendar Last Updated: Jun 22, 2022     Views: 36543

You don't reference the speech itself, but rather the source you found the speech in, for example, a book, video recording, or website. Even for a very famous speech you should find an authoritative source to reference. 

To reference a speech transcript, please refer to the link below.

The in-text citation would include the surname of the author (or editor) of the source document and the year of publication (not the speaker's name or the year he/she made the speech). The reference list would include all information appropriate for the source document. 

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Citing a Speech

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Presidents’ Day is celebrated on the third Monday of February each year in the United States—and it offers the perfect opportunity to honor the life and achievements of past American presidents, especially historical standouts like George Washington, Thomas Jefferson, and Abraham Lincoln.

The holiday was initially held on February 22nd to honor the life and achievements of George Washington (it coincided with his birthday). So, what better way to commemorate the holiday than by learning to cite one of Washington’s most famous presidential speeches: his farewell address.

Below, we’ve laid out instructions on how to cite any presidential speech in three citation styles: MLA, APA and Chicago. For each style, we’ve cited Washington’s farewell address as an example.

In order to properly cite a presidential speech, you need to know the following pieces of information:

• Speaker’s first and last name
• Speech’s title
• Date the speech was delivered
• Editor’s name (if applicable)

If you found the speech in a book, you should also take note of the following:

• Book’s title
• First and last name of the book’s author
• Book’s publisher
• Book’s year of publication
• City and state the publisher is located in
• Page number(s) of the speech

If you found the speech on the internet, instead pay attention to:

• Title of the article
• Title of the webpage (if it differs from the article name)
• Where the speech was given
• Publisher of the website
• Date the article was posted
• URL of the website where the speech resides

Citing Washington’s Farewell Address in MLA Style

How it would look if found in a book :

Speaker’s Last Name, First Name. “Title of Speech.” Date Speech Delivered. Title of Book, edited or translated by First Name Last Name (if applicable) , Publisher, Year of Publication.

MLA citation example (We used the book shown here ) :

Washington, George. “George Washington’s Farewell Address.” 17 Sept. 1796. George Washington’s Farewell Address: Little Books of Wisdom , edited by John Brooks, Applewood Books, 1999.

Online Transcript

How it would look if found in an online transcript :

Speaker’s Last Name, First Name. “Title of Speech.” Date Speech Was Delivered. Title of Website, Publisher’s Name, Date of Publication, URL (no http:// or https://). Transcript (include if video/audio formats also available).

MLA example :

Washington, George. “George Washington’s Farewell Address.” 17 Sept. 1796. The Avalon Project , Lillian Goldman Law Library, 2008, avalon.law.yale.edu/18th_century/washing.asp. 

Citing Washington’s Farewell Address in APA Style

Title of speech. (Publication Year of Book). In Editor’s Initial. Last Name (Ed.), Book title . City, State: Publisher.

APA citation example :

George Washington’s farewell address. (1999). In J. Brooks (Ed.), George Washington’s farewell addres s: Little books of wisdom . Bedford, MA: Applewood Books.

Author’s Last name, First Initial. Middle Initial. (Year of Publication for Webpage). Title of the article or individual page [Format]. Retrieved from URL (no http:// or https://).

APA example :

Washington, G. (2008). Washington’s farewell address 1796   [Transcript]. Retrieved from avalon.law.yale.edu/18th_century/washing.asp.

Citing Washington’s Farewell Address in Chicago Style

Speaker’s Last Name, First Name. “Title of Speech.” Year Speech Was Delivered. In Book Title, edited by Editor’s First Name Last Name. City, State: Publisher, Year Published.

Chicago citation example :

Washington, George. “George Washington’s Farewell Address.” 1796. In George Washington’s Farewell Address: Little Books of Wisdom , edited by John Brooks. Bedford, Massachusetts: Applewood Books, 1999.

Speaker’s Last Name, Speaker’s First Name. “Title of Speech.” Speech, Location Delivered, Date Delivered. “Title of Webpage,” Title of Site . Date Accessed. URL.

Chicago example :

Washington, George. “Washington’s Farewell Address.” Speech, Washington, D.C., 1796. “The Avalon Project: Documents in Law ,History and Diplomacy,” Avalon Project. Accessed November 6, 2018. http://avalon.law.yale.edu/18th_century/washing.asp.

Need to cite more than what’s outlined above? Cite This For Me has several citing resources including a Harvard referencing generator , a guide on how to do an in-text citation ,  an annotated bibliography example you can learn from, and other bibliographic tools.

To cite a speech from a printed book in the MLA style, use the following format.

Speaker’s Last Name, First Name. “Speech Title.” Date Speech Delivered (if available). Title of Book , edited or translated by First and Last Name (if applicable), Publisher, Year.

Prakash, Navya. “An Appeal Against Logic.” The Tyranny of Reason , Thoughtful Books, 2021.

To cite a speech from an online transcript in the MLA style, use the following format.

Speaker’s Last Name, First Name. “Speech Title.” Date Speech Delivered (if available). Title of Website , Publisher Name, Date, URL (without the http(s)://). Transcript. (Include if speech is also in video or audio format)

Prakash, Navya. “An Appeal Against Logic.” The Tyranny of Reason Project , The Laws of Reason Library, 2021, www.thereasonlibrary.edu/tyrannyofreason/an-appeal-against-logic_htm. Transcript.

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• How to Quote | Citing Quotes in Harvard & APA

How to Quote | Citing Quotes in Harvard & APA

Published on 15 April 2022 by Shona McCombes and Jack Caulfield. Revised on 3 September 2022.

Quoting means copying a passage of someone else’s words and crediting the source. To quote a source, you must ensure:

• The quoted text is enclosed in quotation marks (usually single quotation marks in UK English, though double is acceptable as long as you’re consistent) or formatted as a block quote
• The original author is correctly cited
• The text is identical to the original

The exact format of a quote depends on its length and on which citation style you are using. Quoting and citing correctly is essential to avoid plagiarism , which is easy to detect with a good plagiarism checker .

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Table of contents

How to cite a quote in harvard and apa style, introducing quotes, quotes within quotes, shortening or altering a quote, block quotes, when should i use quotes, frequently asked questions about quoting sources.

Every time you quote, you must cite the source correctly . This looks slightly different depending on the citation style you’re using.

Citing a quote in Harvard style

When you include a quote in Harvard style, you must add a Harvard in-text citation giving the author’s last name, the year of publication, and a page number if available. Any full stop or comma appears after the citation, not within the quotation marks.

Citations can be parenthetical or narrative. In a parenthetical citation , you place all the information in brackets after the quote. In a narrative citation , you name the author in your sentence (followed by the year), and place the page number after the quote.

• Evolution is a gradual process that ‘can act only by very short and slow steps’ (Darwin, 1859, p. 510) . Darwin (1859) explains that evolution ‘can act only by very short and slow steps’ (p. 510) .

Complete guide to Harvard style

Citing a quote in APA Style

To cite a direct quote in APA , you must include the author’s last name, the year, and a page number, all separated by commas. If the quote appears on a single page, use ‘p.’; if it spans a page range, use ‘pp.’

An APA in-text citation can be parenthetical or narrative. In a parenthetical citation , you place all the information in parentheses after the quote. In a narrative citation , you name the author in your sentence (followed by the year), and place the page number after the quote.

Punctuation marks such as full stops and commas are placed after the citation, not within the quotation marks.

• Evolution is a gradual process that ‘can act only by very short and slow steps’ (Darwin, 1859, p. 510) .
• Darwin (1859) explains that evolution ‘can act only by very short and slow steps’ (p. 510) .

Complete guide to APA

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Make sure you integrate quotes properly into your text by introducing them in your own words, showing the reader why you’re including the quote and providing any context necessary to understand it.  Don’t  present quotations as stand-alone sentences.

There are three main strategies you can use to introduce quotes in a grammatically correct way:

• Add an introductory sentence
• Use an introductory signal phrase
• Integrate the quote into your own sentence

The following examples use APA Style citations, but these strategies can be used in all styles.

Introductory sentence

Introduce the quote with a full sentence ending in a colon . Don’t use a colon if the text before the quote isn’t a full sentence.

If you name the author in your sentence, you may use present-tense verbs, such as “states’, ‘argues’, ‘explains’, ‘writes’, or ‘reports’, to describe the content of the quote.

• In Denmark, a recent poll shows that: ‘A membership referendum held today would be backed by 55 percent of Danish voters’ (Levring, 2018, p. 3).
• In Denmark, a recent poll shows that support for the EU has grown since the Brexit vote: ‘A membership referendum held today would be backed by 55 percent of Danish voters’ (Levring, 2018, p. 3).
• Levring (2018) reports that support for the EU has grown since the Brexit vote: ‘A membership referendum held today would be backed by 55 percent of Danish voters’ (p. 3).

Introductory signal phrase

You can also use a signal phrase that mentions the author or source but doesn’t form a full sentence. In this case, you follow the phrase with a comma instead of a colon.

• According to a recent poll, ‘A membership referendum held today would be backed by 55 percent of Danish voters’ (Levring, 2018, p. 3).
• As Levring (2018) explains, ‘A membership referendum held today would be backed by 55 percent of Danish voters’ (p. 3).

Integrated into your own sentence

To quote a phrase that doesn’t form a full sentence, you can also integrate it as part of your sentence, without any extra punctuation.

• A recent poll suggests that EU membership ‘would be backed by 55 percent of Danish voters’ in a referendum (Levring, 2018, p. 3).
• Levring (2018) reports that EU membership ‘would be backed by 55 percent of Danish voters’ in a referendum (p. 3).

When you quote text that itself contains another quote, this is called a nested quotation or a quote within a quote. It may occur, for example, when quoting dialogue from a novel.

To distinguish this quote from the surrounding quote, you enclose it in double (instead of single) quotation marks (even if this involves changing the punctuation from the original text). Make sure to close both sets of quotation marks at the appropriate moments.

Note that if you only quote the nested quotation itself, and not the surrounding text, you can just use single quotation marks.

• Carraway introduces his narrative by quoting his father: ‘ ‘ Whenever you feel like criticizing anyone, ‘ he told me, ‘ just remember that all the people in this world haven’t had the advantages that you’ve had ‘ ‘ (Fitzgerald 1).
• Carraway introduces his narrative by quoting his father: ‘”Whenever you feel like criticizing anyone,” he told me, “just remember that all the people in this world haven’t had the advantages that you’ve had “  (Fitzgerald 1).
• Carraway introduces his narrative by quoting his father: ‘“Whenever you feel like criticizing anyone,” he told me, “just remember that all the people in this world haven’t had the advantages that you’ve had”’ (Fitzgerald 1).
• Carraway begins by quoting his father’s invocation to ‘remember that all the people in this world haven’t had the advantages that you’ve had’ (Fitzgerald 1).

Note:  When the quoted text in the source comes from another source, it’s best to just find that original source in order to quote it directly. If you can’t find the original source, you can instead cite it indirectly .

Often, incorporating a quote smoothly into your text requires you to make some changes to the original text. It’s fine to do this, as long as you clearly mark the changes you’ve made to the quote.

Shortening a quote

If some parts of a passage are redundant or irrelevant, you can shorten the quote by removing words, phrases, or sentences and replacing them with an ellipsis (…). Put a space before and after the ellipsis.

Be careful that removing the words doesn’t change the meaning. The ellipsis indicates that some text has been removed, but the shortened quote should still accurately represent the author’s point.

Altering a quote

You can add or replace words in a quote when necessary. This might be because the original text doesn’t fit grammatically with your sentence (e.g., it’s in a different tense), or because extra information is needed to clarify the quote’s meaning.

Use brackets to distinguish words that you have added from words that were present in the original text.

The Latin term ‘ sic ‘ is used to indicate a (factual or grammatical) mistake in a quotation. It shows the reader that the mistake is from the quoted material, not a typo of your own.

In some cases, it can be useful to italicise part of a quotation to add emphasis, showing the reader that this is the key part to pay attention to. Use the phrase ’emphasis added’ to show that the italics were not part of the original text.

You usually don’t need to use brackets to indicate minor changes to punctuation or capitalisation made to ensure the quote fits the style of your text.

If you quote more than a few lines from a source, you must format it as a block quote . Instead of using quotation marks, you set the quote on a new line and indent it so that it forms a separate block of text.

Block quotes are cited just like regular quotes, except that if the quote ends with a full stop, the citation appears after the full stop.

To the end of his days Bilbo could never remember how he found himself outside, without a hat, a walking-stick or any money, or anything that he usually took when he went out; leaving his second breakfast half-finished and quite unwashed-up, pushing his keys into Gandalf’s hands, and running as fast as his furry feet could carry him down the lane, past the great Mill, across The Water, and then on for a mile or more. (16)

Avoid relying too heavily on quotes in academic writing . To integrate a source , it’s often best to paraphrase , which means putting the passage into your own words. This helps you integrate information smoothly and keeps your own voice dominant.

However, there are some situations in which quotes are more appropriate.

When focusing on language

If you want to comment on how the author uses language (for example, in literary analysis ), it’s necessary to quote so that the reader can see the exact passage you are referring to.

When giving evidence

To convince the reader of your argument, interpretation or position on a topic, it’s often helpful to include quotes that support your point. Quotes from primary sources (for example, interview transcripts or historical documents) are especially credible as evidence.

When presenting an author’s position or definition

When you’re referring to secondary sources such as scholarly books and journal articles, try to put others’ ideas in your own words when possible.

But if a passage does a great job at expressing, explaining, or defining something, and it would be very difficult to paraphrase without changing the meaning or losing the weakening the idea’s impact, it’s worth quoting directly.

A quote is an exact copy of someone else’s words, usually enclosed in quotation marks and credited to the original author or speaker.

To present information from other sources in academic writing , it’s best to paraphrase in most cases. This shows that you’ve understood the ideas you’re discussing and incorporates them into your text smoothly.

It’s appropriate to quote when:

• Changing the phrasing would distort the meaning of the original text
• You want to discuss the author’s language choices (e.g., in literary analysis )
• You’re presenting a precise definition
• You’re looking in depth at a specific claim

Every time you quote a source , you must include a correctly formatted in-text citation . This looks slightly different depending on the citation style .

For example, a direct quote in APA is cited like this: ‘This is a quote’ (Streefkerk, 2020, p. 5).

Every in-text citation should also correspond to a full reference at the end of your paper.

In scientific subjects, the information itself is more important than how it was expressed, so quoting should generally be kept to a minimum. In the arts and humanities, however, well-chosen quotes are often essential to a good paper.

In social sciences, it varies. If your research is mainly quantitative , you won’t include many quotes, but if it’s more qualitative , you may need to quote from the data you collected .

As a general guideline, quotes should take up no more than 5–10% of your paper. If in doubt, check with your instructor or supervisor how much quoting is appropriate in your field.

If you’re quoting from a text that paraphrases or summarises other sources and cites them in parentheses , APA  recommends retaining the citations as part of the quote:

• Smith states that ‘the literature on this topic (Jones, 2015; Sill, 2019; Paulson, 2020) shows no clear consensus’ (Smith, 2019, p. 4).

Footnote or endnote numbers that appear within quoted text should be omitted.

If you want to cite an indirect source (one you’ve only seen quoted in another source), either locate the original source or use the phrase ‘as cited in’ in your citation.

A block quote is a long quote formatted as a separate ‘block’ of text. Instead of using quotation marks , you place the quote on a new line, and indent the entire quote to mark it apart from your own words.

APA uses block quotes for quotes that are 40 words or longer.

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McCombes, S. & Caulfield, J. (2022, September 03). How to Quote | Citing Quotes in Harvard & APA. Scribbr. Retrieved 25 March 2024, from https://www.scribbr.co.uk/working-sources/quoting/

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Answered By: Katie Hutchison Last Updated: Aug 08, 2016     Views: 5565

How to Cite a Speech in APA Style

“I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin, but by the content of their character.” Martin Luther King, Jr. made this famous declaration on August 28, 1963, from the steps of the Lincoln Memorial. It may be the most famous American speech ever given, and it’s certainly oft-quoted. 

But how do you properly cite a speech in APA Style?  The answer may surprise you. You don’t reference the speech itself!

Even for a speech you may know by heart, you should find an authoritative source for the text. Then you simply reference the book, video documentary, website, or other source for the quotation. The reference format you need will depend on the type of document you’ve used. 

For example, if you’ve found Dr. King’s speech in a book of great speeches, your reference might be as follows. 

The in-text citation would include the surname of the author or editor of the source document and the year of publication.  For example, your sentence might look like this: 

Dr. King declared, “I have a dream that one day this nation will rise up and live out the true meaning of its creed” (Smith, 2009).

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Purdue Online Writing Lab Purdue OWL® College of Liberal Arts

APA Formatting and Style Guide (7th Edition)

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Resources on writing an APA style reference list, including citation formats

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• APA Citation Generator

Free APA Citation Generator

Generate citations in APA format quickly and automatically, with MyBib!

🤔 What is an APA Citation Generator?

An APA citation generator is a software tool that will automatically format academic citations in the American Psychological Association (APA) style.

It will usually request vital details about a source -- like the authors, title, and publish date -- and will output these details with the correct punctuation and layout required by the official APA style guide.

Formatted citations created by a generator can be copied into the bibliography of an academic paper as a way to give credit to the sources referenced in the main body of the paper.

👩‍🎓 Who uses an APA Citation Generator?

College-level and post-graduate students are most likely to use an APA citation generator, because APA style is the most favored style at these learning levels. Before college, in middle and high school, MLA style is more likely to be used. In other parts of the world styles such as Harvard (UK and Australia) and DIN 1505 (Europe) are used more often.

🙌 Why should I use a Citation Generator?

Like almost every other citation style, APA style can be cryptic and hard to understand when formatting citations. Citations can take an unreasonable amount of time to format manually, and it is easy to accidentally include errors. By using a citation generator to do this work you will:

• Save a considerable amount of time
• Ensure that your citations are consistent and formatted correctly
• Be rewarded with a higher grade

In academia, bibliographies are graded on their accuracy against the official APA rulebook, so it is important for students to ensure their citations are formatted correctly. Special attention should also be given to ensure the entire document (including main body) is structured according to the APA guidelines. Our complete APA format guide has everything you need know to make sure you get it right (including examples and diagrams).

⚙️ How do I use MyBib's APA Citation Generator?

Our APA generator was built with a focus on simplicity and speed. To generate a formatted reference list or bibliography just follow these steps:

• Start by searching for the source you want to cite in the search box at the top of the page.
• MyBib will automatically locate all the required information. If any is missing you can add it yourself.
• Your citation will be generated correctly with the information provided and added to your bibliography.
• Repeat for each citation, then download the formatted list and append it to the end of your paper.

MyBib supports the following for APA style:

Daniel is a qualified librarian, former teacher, and citation expert. He has been contributing to MyBib since 2018.

Race Between Trump And Biden Closest It’s Been In Months—As Democrats Gain Momentum

N ational polls between former President Donald Trump and President Joe Biden have tightened, with Trump now leading Biden by only one percentage point, according to the latest RealClearPolitics polling average —his smallest lead since January amid a Democratic momentum gain that included a historic fundraising haul this week.

Trump leads Biden 46.5% to 45.5%, per the latest average—the last time they were that close was Jan. 12.

Biden has been gaining ground in recent polls—he held a slight lead in a Quinnipiac poll this week, and the monthly Bloomberg/Morning Consult poll out this week showed Biden gaining ground in six swing states, pulling into ties in Michigan and Pennsylvania and gaining a slight edge in Wisconsin, in what the pollsters said was his best performance yet.

At least eight national surveys taken in March show Biden leading Trump, including a Mainstreet Research/Florida Atlantic University poll and a Reuters/Ipsos survey —though Trump still led in a majority of polls taken this month.

The stronger numbers come amid some shifts in strategy from the Biden campaign—recently, the campaign has attempted to woo supporters of former South Carolina Gov. Nikki Haley following her exit from the GOP race, launching a new ad that pointed to Trump’s criticisms of Haley and her supporters.

A February Quinnipiac poll showed 49% of Republican-leaning Haley voters would vote for Trump, compared to 37% in favor of Biden.

Key Background

Biden’s strong polling follows his March 7 State of the Union speech, which surpassed pundits’ expectations and supporters have argued boosted his image. Biden is also leading Trump in fundraising—and that was before a major fundraising event in New York City on Thursday where Biden appeared alongside former Presidents Barack Obama and Bill Clinton. That fundraiser reportedly raised $25 million, featuring 5,000 guests at Radio City Music Hall and musical performances from Lizzo, Queen Latifah and others. The campaign has touted the event as the “most successful political fundraiser in history ,” with First Lady Jill Biden claiming it was the “biggest fundraiser the DNC has ever held.”

Crucial Quote

“Way too close to call on the head-to-head and even closer when third party candidates are counted,” Quinnipiac University Polling Analyst Tim Molloy said in response to this week’s Quinnipiac poll. Other pollsters shared that opinion, with Emerson pollster Spencer Kimball telling USA Today the “election is a toss-up at this stage.”

Trump spokeswoman Karoline Leavitt pushed back on the polling trends in a statement to USA Today, claiming: “There are more than 100 polls showing President Trump crushing Joe Biden, including recent polling that has him leading in every key battleground state and winning independents by double digits.” While recent polls show signs of improvement for Biden, he’s still underperforming where he was this time in 2020, according to NBC. And while the Bloomberg/Morning Consult poll showed Biden improving in swing states, Trump still has an edge in most of them, leading by five points in Arizona, seven points in Georgia, two in Nevada and six in North Carolina, according to the poll.

Biden has also been trying to flip the script on one of his critics’ biggest lines of attack—his age and stamina. He joked about it at this week’s fundraising event, speaking about Trump’s policies but adding that Trump’s ideas were “a little old and out of shape.” On X, formerly known as Twitter, on Thursday, Biden shared a video comparing his busy campaign schedule against videos of Trump golfing, claiming : “There’s a difference between the two candidates this election.”

Further Reading

LIVE UPDATES

Powell Talks Rates, Inflation, and More

Follow live coverage and analysis of the fed chair's talk in san francisco..

Last Updated: 

The Conversation

Fed Chair Jerome Powell spoke at the San Francisco Federal Reserve Bank’s Macroeconomics and Monetary Policy Conference today.

The conversation, moderated by Marketplace’s Kai Ryssdal, began with a question on inflation . The conference appearance came on the heels of February's PCE report .

The highlights:

Powell Says February Inflation Report Was Good. But More Data Is Needed.

Interest Rates Will Probably Settle Higher

Don’t expect the fed to declare victory, powell wants to avoid ‘disruptive’ quantitative tightening, powell says february inflation report was good. but more data is needed before rate cuts., a ‘steady hand’ on rate cuts is key, powell notes, with inflation down from its peak, the fed is prioritizing its dual mandate more, recession is unlikely this year, fed won't make decisions based on politics, powell responds to critics demanding rate cuts, interest rates, inflation, and what else could come up in powell's speech, latest updates.

Updated 2 days ago

Megan Leonhardt

Powell’s first thought when he saw the February PCE inflation report Friday morning was that the data were “pretty much in-line with our expectations.”

Core PCE, which excludes food and energy prices, was up 2.8% on a 12-month basis. Headline inflation was 2.5% year over year.

“That's what we were expecting and it's good to see something coming in, in line with expectations,” Powell said.

Powell called attention to the very high inflation reading in January and that February's reading was lower. "It's not as low as most of the good readings we got in the second half of last year. But it's definitely more along the lines of what we want to see,” Powell said.

“We expect inflation to move down to 2%—but on a path that is sometimes bumpy," Powell noted later in the conference. "The question then is, are those just bumps or are they something more than bumps? ... We're just going to have to let the data tell us that. There isn't anybody who knows,” Powell said.

The timing of rate cuts hinges on the data. “We don't see it as likely to be appropriate that we would begin to reduce interest rates until the Federal Open Market Committee is confident that inflation is moving down to 2% on a sustained basis,” Powell said, noting that the confidence would come from "more good inflation readings like the ones we were getting last year."

The U.S. economy is growing at a solid pace and the labor market is resilient. That gives the Fed a chance to take its time to gain additional confidence that inflation is cooling before taking the important step of cutting rates.

Powell said to expect policymakers to take that time. “We're not going to take that step [to cut rates] until we are confident.”

Banks Are in a Good Place, but Supervisors Shouldn't Be Afraid to be Forceful

Although last year’s banking crisis seemed to catch regulators off-guard, Powell said he believes the U.S. system is now sound and there are lessons that can be applied.

“I would say the banking system is in a good place now,” Powell said. “I think things have settled down significantly.”

While there are some concerns that commercial real estate losses could impact smaller and regional banks, Powell said the banking system, as a whole, is in a good place. “The commercial real estate problem will be with us for some years,” he said, adding that there are only some banks caught in those headwinds. He said the Fed is working with those banks to ensure they have enough capital and can work through the challenges.

One of the lessons of Silicon Valley Bank's failure was that there are situations where bank supervisors need to be “forceful” when appropriate, Powell said.

“Bank supervision can tend to be pretty process oriented,” Powell said. There's a playbook, a checklist, and Powell said that can be a good thing because the process should be transparent so banks know what's expected and can do what's expected.

But that process can be slow when it needs to be fast. The art of bank supervision is balancing when to jump on things and when to take the time to be process-oriented.

“What's important is that the banks are well-capitalized, that they understand their risks, and manage them,” Powell said. “The more the banks take that on themselves and do a great job at it without us pushing them, the less we need to push.”

Powell said that when determining the path of monetary policy, the central bank’s “hand is a steady hand.” That's key when it comes to weighing economic data, particularly to measure the trajectory of inflation.

“We've been saying all through last year and this year that we're making progress. We've noted that progress, we haven't overreacted to it,” Powell said.

Powell noted that it’s important to be nimble and flexible. “We always have to be humble,” he said, particularly given the outlook is “always much more uncertain than most people think.”

The economy “can and often has recently performed in unexpected ways,” Powell said. But he believes the Fed is ready for that if that's what happens. “It's important to get this right,” Powell added.

There’s been some speculation on what would happen if the Fed cut rates and then had to reverse course. Marketplace’s Ryssdal asked Powell about it: “Would it be terrible if you reduce interest rates by a quarter of a percentage point and then the data changes and you have to change your mind?”

“It wouldn't need to be terrible,” Powell said. If that happens, he said the central bank would react and adjust.

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