They called the "New Democrats" and have produced at least three presidential candidates, and two presidents.

Describing themselves as "centrist", they are an economically right-wing and "Third Way" faction which dominated the party for around 20 years, starting in the late 1980s.

During the presidency of George W. Bush, the evolving New Democrat or “economically liberal” movement was dominated by socially liberal fiscal conservatives on Wall Street and in Silicon Valley. These "centrist" Democrats shifted their base from white working-class Southerners and Westerners and focused instead on winning over former moderate Republicans in the Northeast, Midwest, and West Coast who combined liberal attitudes on abortion, LGBT rights, and environmentalism, with opposition to “big government” and concern about federal deficits. In 2008, many Wall Street Democratic donors abandoned Hillary Clinton and supported then US Senator Barack Obama for President.