WASHINGTON (AP) — Federal Reserve Chair Jerome Powell is warning of the threat of a prolonged recession resulting from the viral outbreak and is urging Congress and the White House to act further to prevent long-lasting economic damage.
Angry tweet pondering firing Powell in 3…2…1.
Lincoln was never treated this badly by Powell…
Sad!
I think the spellchecker confused recession with depression.
Shorter version: “Powell Endorses House Dem $3 Trillion Plan to Provide Direct Aid to State/Local Gov’t + Working Class Families”.
Or transition…
When a GOP appointed Fed Chair is endorsing stimulus and talking about a prolonged recession, he’s conceding that this recession will last for more than 4 quarters. He’s thinking at least 6 to 8 quarters which is half way to (or a bit more) towards a full blown depression (3 years). I remember the recessions of 1991 and 2008 very well and such forecasts were not made. In fact, the economy started growing even during periods associated with the worst of the recessionary sentiment.
Trump’s plans do not fit in with the realities on the ground.
There is only so much evil which can be covered up.
There was another Trump-friendly leader who had at his disposal various people (conquered Gentile Frenchmen and Dutchmen, Poles, Jewish individuals of the aforementioned nationalities, Italians who had changed sides when Mussolini left the country, etc.) to shuttle in to work at various factories**
Trump would do it if he could.
** many times, after British/American heavy bombing, factory production INCREASED
“I never wanted him in the first place. The colored guy who had no right be in my position before me left him there to sabotage our great efforts. BIG DISGRACE!!! If I have to fire him, I will.”
Yet another case where the Demonrats used their advantage in prognostication to prepare for undermining the future Trump administration before Donnie had even announced he was running?
Folks, understand that all of this could have been avoided with early acknowledgement of the problem along with a fast roll-out of testing, tracing and isolation of the infected, but Trump was too busy playing golf, holding campaign rallies and calling the virus a hoax.
It would have helped a hell of a lot if all of those public health experts hadn’t been fired from NSC, DHS and HHS, and we hadn’t closed down 80% of our off-shore public health first responders (who crushed zika and ebola). The Obama administration provided a plan for responding to pandemics, but just as Trump fired all the public health experts Obama hired, he also ignored the plans Obama provided. Don’t forget that the Obama administration also procured the designs for machinery which the federal government could build to produce much-needed N95 masks during a pandemic. The design was provided from the engineers to the Trump administration in 2018, and Trump did nothing with them.
Trump owns this pandemic in the US, just as he owns the resulting recession. There is a huge amount of blood on Trumps tiny hands.
Jerry Powell is a corrupt and nasty turd from the Trump Organization port-a-potty. He has a made a mess. He lowered interest rates to near zero every time President Skanky Turdface tweeted that his friends were not getting cheap loans. Now he has messed up the recovery by letting his banker friends steal tax payer stimulus money.
Skanky Turdface is clearly happy at the cheap money that Powell is passing out to his friends.
But if we all go to war against the Coronavirus and a few million of us die can we achieve herd immunity fast enough to restore the economy by election day?