Fed Makes Emergency Rate Cut, but Markets Continue Tumbling The central bank cut interest rates by half a percentage point, its biggest single cut in more than a decade, as a pre-emptive move to protect the economy from the coronavirus. By Jeanna Smialek and Jim Tankersley March 3, 2020 Updated 3:28 p.m. ET Fed Makes Emergency Rate Cut, but Markets Continue Tumbling excerpt: “Maybe there’s a stronger sense that we’re closer to being out of ammo — this is a real shock, and what is a rate cut going to do,” Julia Coronado, founder of the research firm MacroPolicy Perspectives, said. “We don’t know where it is, who has it, or how far it is going to spread.” This cut leaves the Fed with limited room to lower rates further should the economy run into danger. Going into the last recession, from 2007 to 2009, the Fed cut rates from above 5 percent. Now it will have just four quarter-point moves left at its disposal.
The Trump administration has been accusing China and Iran of withholding numbers and statistic on Coronavirus victims. The unusual thing is Trump has ordered the CDC to do exactly what his administration is running at the mouth about. A Congress member has just called out the CDC for refusing to release figures for what is taking place in America. At first glance it looks like the Trump administration is massaging the facts to make Trump look good.
This a classic example of ignoring Kenysian economics and the ugly consequences when a real crisis arrives. The tangerine one has been bullying the Fed for over a year to cut rates....first the economy didn’t need a rate cut to stimulate, second recovery from the bush debacle didn’t provide enough wiggle room in terms of a high enough rate. Now what? Good excerpt.
State Department keeps quiet as Pompeo meets Lavrov in Munich Russian officials publicize meeting that US side did not mention. By David M. Herszenhorn 2/15/20, 12:53 AM CET Updated 2/17/20, 4:55 PM CET State Department keeps quiet as Pompeo meets Lavrov in Munich excerpt: "MUNICH — U.S. Secretary of State Mike Pompeo met Russian Foreign Minister Sergey Lavrov on the sidelines of the Munich Security Conference on Friday in an encounter the American side apparently wanted to keep under wraps. The State Department made no announcement of the meeting, which took place in Lavrov's own dedicated meeting room at the Hotel Bayerischer Hof, where the major annual conference of politicians, policymakers and security experts is held. Pompeo's aides also did not provide any readout after the meeting ended. Russian journalists traveling with Lavrov were aware of the meeting in advance, and wrote about it afterward."
Jeff Sessions Forced Into Runoff in Fight to Reclaim Senate Seat in Alabama The former attorney general is seeking to win back the Senate seat he held for two decades in a primary contest that has turned into a contest of loyalty to President Trump, who fired him. By Jeremy W. Peters The New York Times Published March 3, 2020 Updated March 4, 2020, 7:28 a.m. ET Jeff Sessions Forced Into Runoff in Fight to Reclaim Senate Seat in Alabama excerpt: "MOBILE, Ala. — Jeff Sessions, the former attorney general who emerged from political exile and defied President Trump to run for the United States Senate in Alabama, suffered a major setback on Tuesday in his fight to win back the seat he held for 20 years, appearing to finish behind a political upstart he will now face in a runoff election. Precincts across the state were still counting votes after midnight. But Mr. Sessions was trailing Tommy Tuberville, the former Auburn University football coach who clung closely to Mr. Trump in a relentlessly negative and personal campaign that turned the race into a contest of who was more loyal to the president. He will face Mr. Sessions in a March 31 runoff."
Trump's own party is telling him to let the adults do the talking about health issues. Coronavirus: Republican senator tells Trump to ‘let the professionals do the talking’ after he repeatedly contradicts expert health advice Conrad Duncan The Independent March 4, 2020, 6:40 AM EST Coronavirus: Republican senator tells Trump to ‘let the professionals do the talking’ after he repeatedly contradicts expert health advice excerpt: "Republican senator Lamar Alexander, the chairman of the Senate health committee, has intervened to assert that nonpolitical public health officials should be leading the response to the virus. “My advice to the president and the vice president is let the professionals do the talking,” Mr Alexander said. Meanwhile, Democrats in Congress have said Mr Trump’s comments are undermining the work of his administration’s medical experts. “It is pretty extraordinary that we have to have our medicine and health professionals counter-messaging the president ... that they have to correct the record,” Chris Murphy, a Democratic senator for Connecticut, told a hearing on Tuesday."
This thread seems like a complete waste of time now Vote for Trump Sleepy Joe is going to bore you to death
As expected, Trump is still holding a deep grudge against Sessions, insulting him after Super Tuesday. It always comes back to 100% loyalty to Trump. Trump: "This is what happens to someone who loyally gets appointed Attorney General of the United States & then doesn’t have the wisdom or courage to stare down & end the phony Russia Witch Hunt." "Recuses himself on FIRST DAY in office, and the Mueller Scam begins!"
The quick interest rate cut by the Fed appears to have made investors fear the market effects of the coronavirus even more. The cut gives the impression that Trump is using desperation measures. Trump launches an urgent fight to save his ticket to reelection The president is pushing for stimulus policies generally preferred by Democrats, as major U.S. businesses signal that coronavirus fears could smother key parts of the American economy. Trump launches an urgent fight to save his ticket to reelection excerpt: "Trump and his aides have been battering the Federal Reserve to cut interest rates — shrugging off the central bank’s traditional independence — only to get an emergency rate cut Tuesday and then watch investors get spooked by the signal. And they’re watching a flood of announcements from multinational U.S. companies signaling trouble that could strangle the American economy for months to come. The frenzied push to boost the economy is colliding with Republican orthodoxy opposing short-term stimulus during the last recession. But it’s a reflection of what some Republicans recognize as an existential threat to Trump’s reelection: a potential downturn in the economy and financial markets in the run-up to a close and heated presidential election."
I listened to my father make up similar derogatory terms about people he didn’t like. He was racist and I thought the put downs were ugly then, Trump’s are also ugly now. Doesn’t say much for the people who pass the put downs along either.
He's already been proven to be dangerous. He gets reelected and then we can kiss this country goodbye. He's a fool and a clown----but the Gorilla likes him.
Trump is welcome to explain why the greatest economy in the world can be this fragile and needs so much urgent quick fixes for an entity that Trump and Limbaugh describe as the common cold in a country that is supposedly near 100% airtight (from a harmless virus that his anti-globalist wall will repel) with a cure ( not needed for a harmless virus) supposedly just around the corner when medical professionals say it will require about 18 months.
Kiss the country goodbye? Really? Maybe some of you should form your own party. The Overly Dramatic American Party
Now, why would those medical professionals lie to us? *Scratches head, it's such a mystery, quite the puzzle
And after 3 years, 4 months A thousand and.....27 pages, jeezus The best guy you could come up with is a guy that does look like someone reanimated a corpse 3 years, 4 months, Joe Biden is the best guy you could come up? A country with 1/3 of a billion people, that guy Ugh, you loosers