Moody’s Analytics chief economist Mark Zandi went on CNN Friday to warn that President Donald Trump’s latest trade war moves against China could very well throw the United States into a recession.
While discussing Trump’s surprise announcement on Thursday that he would be placing a new 10 percent tariff on $300 billion worth of Chinese goods, Zandi argued that this new tax increase could be a tipping point that sends the economy on a downward trajectory.
“If the president follows through on these tariffs, that is the fodder for recession,” he said. “Business people are already very, very nervous about what’s going on. They pulled back on their investment spending, the next thing is they’re start pulling back on their hiring. Once they do that, unemployment will rise and that will be a problem.”
CNN host Poppy Harlow seemed taken aback by Zandi’s claim that a recession is looming, but he didn’t back down when she pushed back on his analysis.
“I think the odds [of a recession] are high,” he said. “I think the tariff war is going a lot of damage to the economy. It hasn’t shown up yet in terms of jobs, you can see parts of it in manufacturing, transportation and distribution. So far it hasn’t happened, but this next round is going to be too much for businesses to bear.”
Watch the video below.
Trump’s failed Federal Reserve nominee doesn’t even know what the interest rate was 10 years ago
On Tuesday, CNN's Chris Cuomo invited on Stephen Moore, supply-side economist and President Donald Trump's failed pick for the Federal Reserve Board of Governors, to discuss the state of the administration — and Moore made a hilariously wrong remark about interest rates that suggests the country was better off without him.
"There's no greatest economy ever," said Cuomo. "You know these things ... he's doing well. He's not doing better than we've ever seen before, and you guys got the benefits of juicing the economy with this tax cut. Fair point?"
"Let me say this, I think it's a pretty darn good economy," said Moore. "I'll cite a few statistics. It's a pretty darn good one. We have the lowest unemployment rate in 50 years ... and for blacks and Hispanics and women."
WATCH: Spike Lee tears into Trump for empowering white supremacy
On Tuesday, director Spike Lee talked with CNN's Anderson Cooper about race, slavery, and President Donald Trump — and pulled no punches on any of it.
"I think that most woke historians would say that this country, the United States of America, was built upon the genocide of people and slavery. I mean, that's a fact," said Lee. "And I think that if we Americans came to study how this country started, we wouldn't be talking about kick immigrants out, you know, because if it wasn't — I mean, Native Americans, people brought here as slaves, everyone was immigrants. I woke up this morning and went on Instagram and felt my ancestors, not the only one saying this but I think it's a very important date today in American history."
Former Defense Secretary warns: ISIS is back, and Trump can’t ‘pretend it’s not there’
On Tuesday's edition of CNN's "OutFront," former Defense Secretary and CIA head Leon Panetta warned that ISIS is gaining strength in the Middle East again — and that after all of President Donald Trump's boasts that he had utterly defeated the terrorist organization, now it is time for him to get serious.
"Roughly estimated 15,000 ISIS fighters in Iraq and Syria now," said host Kate Bolduan. "Secretary Pompeo saying the terror group is, in some ways, stronger than it was three or four years ago. How big of a concern should the news be for Americans?"
"It should be a very serious concern for the president of the United States and for our country," said Panetta. "Because his first responsibility is to protect our country. And we learned from 9/11, the fact that these terrorists have one fundamental aim, which is to attack the United States and attack countries in the West. And now what we're hearing is that ISIS is clearly re-mobilizing to the tune of almost is 15,000-18,000, that are mobilizing into secret cells, mobilizing into attack teams, conducting not only attacks but kidnappings and assassinations and bombings, as we saw in Afghanistan. So this is, in the end, a national security threat that the United States cannot simply stand back and pretend it's not there."