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Briana: Tonight on "NJ Spotlight News," a grand journey indicted Marty Small and his wife La'Quetta on child abuse charges for allegedly beating their teenage daughter.

Plus, election day.

While in parts of Essex, Hudson and Union counties, voters heading to the polls to see who will fill the unexpired term of the late Representative Donald Payne.

>> It is David versus Goliath.

I don't believe failure is an option.

>> I am excited about the changes with the New Jersey delegation.

People who represent us should look like New Jersey.

Briana: All eyes on the Federal Reserve as they cut rates for the first time in four years.

>> Adjustable-rate mortgages, immediate benefit right away.

Briana: Breaking ground in New ark.

$336 million into a developments with mixed developments, restaurants and more.

>> When finished, this will be a revitalized neighborhood designed with sustainability, equity and community in mind.

Briana: "NJ Spotlight News" begins right now.

>> From NJPBS Studios, this is "NJ Spotlight News" with Briana Vannozzi.

Briana: Good evening and things for joining us.

I'm Briana Vannozzi.

We begin with key stories we are following.

A drastic decline in opioid overdose deaths.

New provisional data from the CDC suggests national opioid overdose fatalities have dropped to their lowest level in three years, at just over 10.5%, a major reversal from when overdoses surged, due to drugs being laced with fentanyl, sometimes spiking by double digit percentages.

The CDC estimates more than 75,000 opioid overdoses for the year ending April 2024, compared to the peak last summer when the U.S. released over 86,000 annual deaths.

It is unclear why numbers are shifting, but experts believe it is due to availability and affordability of medical treatment [NO AUDIO] On second degree endangerment charges.

Prosecutors are accusing the couple of physically and emotionally abusing their teenage daughter on several occasions last year.

Charges against the mayor and his wife, La'Quetta small, who is the city superintendent of schools, was filed in April.

Tuesday a grand jury agreed.

According to the indictment, Marty Small knocked his then 15-year-old daughter unconscious with a broomstick and threatened to earth slam her down the stairs, throwing her to the ground by her head.

La'Quetta small is accused of dragging her by the hair, striking her with a belt, and striking her during an argument.

The smalls say they are innocent and call it a private family issue that come with raising a teenager.

Marty Small was charged with making terroristic threats.

There is evidence of interactions between the girl and her parents, along with statements from school personnel and a therapist.

New Jersey transit board members met today amid increasing scrutiny and frustration from riders who faced 1800 disruptions endlessly -- delays this summer.

Some commuters criticized the fare holiday leading up to Labor Day saying, the money could have been better used elsewhere.

Others raised concerns around service reliability and the cost of tickets for New Jersey transit, which saw a 15% fare hike in July for the first time in nine years.

[NO AUDIO] Today board members say they found a candidate would not provide more details.

Governor Murphy was pressed on the issue today by a senior political correspondent during a one-on-one interview for a season premiere of "Chat Box."

David asked the governor about funding for the beleaguered agency, and offering a fare hike as an apology to riders.

[NO AUDIO] >> I know you are a big cheerleader for the agency but how does that represent progress?

>> I thought her peace was good, did a good job and it was objective and called balls and strikes.

Give me a minute on this one, David.

[NO AUDIO] >> I got them in the same room together in June.

We came up with a plan that both sides agreed to and or pursuing.

The end of the summer was not great by any means, but June was the worst part by far.

They need funding, at least $300 million to fund new wires, that tend to fail in extreme heat, which is part of the reason these bad months happen during the summer.

We are getting the gateway tunnels built at long last after my predecessor canceled them.

Two new tunnels rehabbing the old two.

You get more in communities like Westfield when that is done.

The trajectory is right.

It ain't going to be overnight.

>> The point to point progress is significant area I think there are 175 new double-decker cars on order, a lot of good things happening, but let me say, the summer sucked, and I'm not happy about it either.

>> You apologized by offering this fare holiday, for which you got criticized anyway, because the whole point is, the agency is tough to fund, and now you're giving money back.

>> I got a lot more applause than criticism.

We needed to find a permanent source of funding.

We did with this corporate transit fee.

I applaud corporations that will put a lot of coin into this.

God willing they will get a lot back from it.

That was a tip of a cap.

It was a lousy solution.

But we owe you something.

Briana: You can see David's entire interview with Governor Murphy tomorrow night on "Chat Box" on our YouTube channel at 6:00 p.m.

It is voting day in one district.

They are choosing a successor to fill the remainder of Donald Payne Junior's term.

He died in April.

Four candidates are on the ballot in this house election, but LaMonica McIver and Republican businessman Carmen Bucco are the front runners.

Today's victory will be short-lived the same candidates will face off again in November to win the first -- the full two year term.

Brenda: Special elections like in the 10th Congressional District can sneak up on voters who see an open polling place and wonder what is up.

Did you know there was an election today?

>> no.

>> What is the point?

Brenda: Some voters feel apathetic, some distracted by political battles at the top of the ballot.

Democrat LaMonica McIver is confident despite low voter turnout expected today, but she is taking nothing for granted.

>> Folks don't understand there is another election.

We are highly focused on November.

We are working hard.

We have been phone banking for weeks to encourage people to vote today.

Brenda: McIver, who voted in Newark, is almost certain to win this congressional seat, split sleep between Townsend, as six and other counties.

Democrats outnumber Republicans six to one.

>> I have been a Democrat my whole life.

>> I'm a Democratic -- Democrat.

Brenda: Republican challenger Carmen Bucco says he understands the odds are stacked against him.

>> It is David versus Goliath.

I don't believe failure should be an option.

Brenda: Says he spent $15,000 on this campaign.

>> We can't pull the voters by their ears.

We can educate them, let them know what is going on, but it is up to them.

Republicans do not feel this is a winnable seat, so nothing was ever put into it.

>> It is not that it challenger cannot win, but it is an uphill battle.

If they are going to win, you have to see lots of spenders.

Brenda: He notes this special election sees a torch passed with those vying to fill a term left vacant after representative Donald Payne Junior passed away this summer.

He had succeeded his father in the seat, a legacy spanning decades, backed by a powerful political machine.

McIver, who already resigned as the Council President, feels the seismic shift.

>> It is a historic moment.

For the first time there will be change.

I will be the first woman to represent this.

I am excited about all the changes in the New Jersey delegation.

People who represent us should look like New Jersey.

Brenda: It will be a deja vu moment in a few weeks.

After they vote to fill the remainder of Payne's term, they will vote again for a full term in Congress.

With the push of a button this November, New Jersey voters can make sweeping changes across the state's delegation.

>> There is no question New Jersey's Congressional delegation is getting younger, more diverse, more female, more like the face of New Jersey.

Brenda: He says the Democratic assemblywoman looks likely to succeed him.

And so Weltman's incumbent John gain.

If these women succeed and to the incumbents win reelection, New Jersey could potentially send five women to Washington.

Meanwhile, senior senator Bob Menendez's resignation in the wake of his bribery conviction open the seat for either New Jersey's first Asian-American U.S.

Senator or first openly gay one.

Meanwhile election workers are posting on social media, urging voters in the 10th -- >>, on out and vote.

Tell everyone.

Brenda: Whoever wins today will serve until January 3.

Brenda Flanagan, "NJ Spotlight News."

Briana: We will be following this race closely tonight.

Just had to njspotlightnews.com, and click on the NJ Decides 2024.

A sweeping plan to transform the business district is underway.

The governor and mayor kicking off the ground breaking today on a massive $336 million redevelopment project that will include hundreds of apartments, restaurants and stores, not to mention a new community center and home for the jazz station.

As Joanna Gagis reports, it is a major milestone.

The first new construction to be built in Newark in over 60 years.

>> Today we are celebrating the first major expansion of our campus since we opened our doors in 1997.

Joanna: They say it takes a village to raise a child, but what about a village in the center of Newark?

$336 million in private-public partnerships.

A massive development that will include a wide range of offerings.

>> This is housing, arts education, retail, creating a center of gravity right here into this area.

Joanna: It will include artside, a 350 unit residential building, 20% of the units will be affordable housing.

It will also include retail spaces similar to Swahili village across the street, called one Peter square.

>> When finished this will be a fully reimagined and revitalized neighborhood designed with sustainability, equity and community in mind.

From thoughtfully designed shared spaces to the pedestrian friendly streetscapes this campus will be an even greater part of the Newark community.

When complete, this project will reshape this entire neighborhood, provide new housing and employment opportunities, and further cement NJPAC's legacy and contributions to the city.

Joanna: It will also become the new home to Newark's jazz radio station.

>> We are honored and grateful to join NJPAC on this project which is in alignment with WGBO 's mission including open, visible, street-level workspaces and studios, high-tech reduction facility to not only serve as a hub for the world's greatest practitioners of jazz broadcasting and performance, but as a bridge to careers and internships to young people.

Joanna: Across the street in a vast, empty parking lot, a massive 58,000 square foot center arts Center and community center.

>> It is the jewel in the crown with 12 classrooms, 175 seat education lab, a reading lab and rehearsal studios.

It will be open seven days a week serving mothers, babies, older adults with useful, free programming.

it will be home to NJPAC's art programs which serve families and teaching artists through scores of thoughtful and transformational initiatives.

It will also house many free public programs, performances, community gatherings, lectures, reading events.

Joanna: The Center, named after Lee Cooperman, whose donation made it possible.

>> With the reimagined chambers Plaza and Swahili village with Cooperman here, it will be one of the most vibrant corners in New Jersey.

Joanna: They are hoping it becomes the linchpin to connect Newark's most vibrant downtown areas all the way to the Prudential Center.

It is expected to be completed by fall 2027.

Joanna Gagis, "NJ Spotlight News ."

Briana: In our spotlight on business report, the U.S. turning an important corner in the years long fight against inflation.

The Federal Reserve today slashed interest rates by 0.5%, a more aggressive move than some expected.

A split vote at the end of a two-day policy meeting.

It marks the first interest rate cut in four years and charts the course for two additional cuts this year, followed by four more in 2025.

Rates previously at a 23 year high since last July.

What does it mean for you and the job market?

I am joined by the director of the Rutgers executive MBA program.

Why did the Fed decide to move so decisively now in this moment?

Guest: This is a huge moment.

It has been a while since we had such a drastic rate cut.

We have had 11 rate hikes.

The Fed has been stepping on the brakes since inflation came back in 2022.

Inflation had disappeared from our country since 1981, then came back in 2022, when the Fed hit the brakes 11 times.

While inflation is down, they have engineered a soft landing.

The labor market was throwing up red lights.

This time the Fed is trying to get ahead of it.

When the Fed was cutting rates, or trying to hit the brakes earlier, it was behind.

Oh, they are waiting too long, or should have moved earlier.

I was telling people, you are in the middle of COVID, you don't raise rates.

The Fed was given flack.

Briana: Are they playing catch-up now?

Guest: I think the market has already baked in a rate cut.

I am an engineer by training.

Macro is strange because it has annoyingly long lags.

When you turn off or turn on the light in macro, it might go off in a week or six months or not at all.

You have huge lags.

The Fed is determined, let's not go into a hard landing.

That is when you break down the economy, bring down overheated growth, bring down inflation, but then you tap the brakes to make sure it does not go into a hard landing, which is unemployment.

They are being proactive this time, and that the job market recovers.

Briana: The light switch analogy makes a lot of sense.

The question on most consumers' minds, is this going to ease financial pressure on them?

What does it mean for the consumer?

Guest: Anyone with a credit card payment, adjustable rate mortgages, they will see an immediate benefit right away.

Keep in mind, household consumption, that is 70% of our economy.

That is the turkey on the Thanksgiving table.

Forget government spending, exports, business spending.

Consumption is 70%.

It is going to pick up in the short run.

Consumption has three components.

One is after-tax income.

One is consumer confidence.

The third is wealth, housing.

Housing prices, if you want a house, you're feeling wealthy, that is a plus.

After-tax disposable income has inched up finally post-COVID, just recently.

Consumer confidence, that is the big one.

That is getting a big boost with this 50 basis points cut.

Briana: Is there a downside, Professor?

I am thinking of the high interest savings accounts and money market accounts people took advantage of in these last couple years.

Guest: As interest rates slow, it will benefit borrowers and hurt savers.

I was telling people, for once, savers are going to get something out of this.

That story is going to fade now as interest rates fall.

Keep in mind, the thirty-year mortgages, long-term borrowing, those rates have nothing to do with what the Fed did today.

People don't understand this, the Fed can only affect short-term federal funds rates.

The Fed has no control over thirty-year mortgages.

Briana: Professor, I have to stop you there.

We will have to continue this conversation.

Thanks so much.

>> Support for the business report, brought to you by Newark 's arts and entertainment District and Halsey, a neighborhood built on heart and hustle.

Check out the Halsey Fest schedule.

Briana: That will do it for us tonight.

Remember to download the "NJ Spotlight News" podcast to listen anytime.

I'm Briana Vannozzi.

Thanks for being with us.

Have a great evening.

See you tomorrow.

>> NJM Insurance Group, serving the insurance needs of residents and businesses more than 100 years.

Horizon Blue Cross Blue Shield of New Jersey, an independent licensee of the Blue Cross Blue Shield Association.

And by the PSEG foundation.

Support for the business report provided by Newark's arts and education district and Halsey Street.

Halsey, a neighborhood built on heart and hustle.

visit for the2024 Halsey Fest schedule.

>> I'm Gloria Monks, president of New Jersey realtors.

Whether it is guiding buyers through the process or securing space for small business owners, New Jersey realtors have been helping clients through real estate transactions for more than a century.

No matter what your unique needs are, there is a knowledgeable New Jersey realtor for you.

Learn more at njrealtor.com/find.

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