Washington Post columnist Catherine Rampell busted Trump-loving economist Stephen Moore on Friday when he falsely claimed that we are seeing vast “deflation” in the United States economy thanks to interest rate hikes by the Federal Reserve.
During a CNN appearance, Moore tried to maintain that the economy was as strong as ever, but he also blamed the Fed for tanking the stock market by raising interest rates over the past several months.
“Both of the rate hikes were unnecessary and were a cause for deflation in the economy,” he said.
“Wait, wait, wait!” interjected Rampell. “There is no deflation!”
“Yeah there is,” Moore replied.
“No there is not,” she shot back. “Look at the Consumer Price Index!”
Moore tried to counter by noting that some prices on the Commodities Price Index had dropped — but Rampell hit back by saying that much of that was due to President Donald Trump’s trade wars.
“Soy bean prices are falling because of the trade war,” she said.
Rampell then nailed Moore for his false warnings during the Obama presidency that it was unwise for the Fed to keep interest rates low because it would lead to hyperinflation — despite the fact that the economy at the time was deeply depressed and much more in need of easy money.
“I’m old enough to remember when, ten years ago, during an actual deflation, you went on TV on a rival network and said we were about to have hyperinflation and told the Fed that it was irresponsible then to keep rates low,” she said. “It’s totally inconsistent and it’s totally irresponsible to make up numbers.”
“I’m not making up numbers,” Moore replied defensively.
Watch the video below.
‘These are massive glitches’: CNN anchor explains how Trump’s small business loan program is failing
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During a panel discussion about the program, Chatterley said that the sheer number of calls from distressed small businesses has been completely overwhelming the system, which so far has been unable to handle the large volume.
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"She believed in government and she raised us to believe in government," Stringer told CNN's Anderson Cooper. "She's got a great story and I'm going to tell it for the rest of my life."
"I've got to tell you, Donald Trump has blood on his hands and he has my mom's blood on his hands," the NYC official added. "And he sent us that hospital [ship] that's right here in New York harbor and no one can get on that hospital, which is something that is just outrageous."
New York morgue adding shelves to refrigerator trucks to hold additional bodies: report
CNN's Miguel Marquez reported this week that a morgue in New York is scrambling to find places to store dead bodies due to the coronavirus pandemic.
Marquez recently visited University Hospital of Brooklyn, where four patients with COVID-19 died in the 40 minutes he was there.
On Monday, Marquez told CNN's John Berman that the hospital's mortuary was taking extreme measures to hold the bodies.
"Right now, their morgue -- their regular morgue -- is overwhelmed," the CNN reporter explained. "They have two semi tractor trailer trucks. They are talking about added shelves to that. Because right now they have all of the bodies on the base of the truck."