President Donald Trump has overseen a historic economic expansion — which turns 10 years old next week — but signs of a slowdown are on the horizon as he seeks a second term.
Weaker job growth, reduced manufacturing activity and hints that the Federal Reserve could cut interest rates all suggest a recession could complicate his re-election bid, especially if he continues pushing trade wars, reported Politico.
“The economy has been a tailwind for him, but by Election Day next year it will at best no longer be blowing,” said Mark Zandi, chief economist at Moody’s Analytics. “There is a reasonable probability that he will be facing an economic headwind for re-election with growth slowing to the point that unemployment is starting to rise next year, though a lot depends on what he does with the trade wars and what the Fed does in response.”
Voters tend to finalize their assessment of a president’s economic performance months before the election, so he may be able to buy enough time if the Fed gives him the interest rate cuts he wants.
But he might be better off getting a shallow recession over with now, so growth can happen well ahead of the election.
“If there is going to be a recession, it’s probably good to get it over early,” said Karlyn Bowman, polling analyst at the American Enterprise Institute. “His marks on handling the economy and jobs are just about the only positive marks he has.”
Julián Castro says his campaign is ‘in dire need’ of funds – and he’s out if he can’t raise $800K in ten days
Julián Castro says he will have to pull out of the Democratic presidential primary if he does not raise $800,000 in the next ten days. Castro, a former HUD Secretary, says he will be forced to stop campaigning if he does not reach his financial goals by the end of the month.
“The truth is, for our campaign, these debates have offered our only guaranteed opportunity to share my vision with the American people,” Castro said in an email to supporters, as Buzzfeed reports.
Buttigieg took campaign hiring advice from Facebook CEO Mark Zuckerberg
Raising fresh questions and new critiques about his close ties to corporate elites amid a hotly contested Democratic primary, Bloomberg reports Monday morning that the campaign of South Bend, Indiana Mayor Pete Buttigieg received private and direct hiring advice from Facebook CEO Mark Zuckerberg—advice the presidential candidate apparently took.
According to Bloomberg:
Earlier this year, Zuckerberg sent multiple emails to Mike Schmuhl, Buttigieg's campaign manager, with names of individuals that he might consider hiring, campaign spokesman Chris Meagher confirmed. Priscilla Chan, Zuckerberg's wife, also sent multiple emails to Schmuhl with staff recommendations. Ultimately, two of the people recommended were hired.
As Zuckerberg defends false Trump ads as free expression, critics say Facebook’s assault on ‘foundations of Democracy’ must be stopped
"To save democracy and the free press, we must eliminate Google and Facebook's control over the information commons."
Amid the ongoing debate over Facebook's policy of exempting political advertising from its "misinformation" standards, a "defiant" speech on free expression delivered Thursday by Facebook CEO Mark Zuckerberg has elevated broader concerns about how powerful tech giants are "poisoning the well of our democracy."