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.”
“As part of a continuing trend,” added Cuomo.
“We have the lowest interest rates in 50 years, lowest inflation rate in 50 years. I’ll cite one statistic that I think encapsulates what Trump that has done. 7.5 million. That’s the number of surplus jobs we have in America today,” said Moore.
Leaving aside the fact that Cuomo is right that much of Trump’s growth trajectory was inherited, and that there are warning signs the current economic performance will not continue, Moore is absurdly wrong that today’s economy has “the lowest interest rates in 50 years.” The current Federal Reserve target for interest rates is 2.25 percent. By contrast, in 2009, at the height of the previous recession, interest rates dropped to 0.5 percent — a rate so low that, adjusted for inflation, banks were actually paying people to borrow money.
Moore’s brand of economics undergirds much of the GOP platform and strategy. But he can’t even be troubled to get basic facts straight.
Congress still has one big tool left to rein in Trump’s corruption: Oversight Committee Democrat
Senate Republicans may have managed to quash the impeachment trial without calling forth any new witnesses or seriously considering the evidence against President Donald Trump. And the president may feel vindicated and largely invulnerable as a result.
But, Rep. Raja Krishnamoorthi (D-IL) told CNN's Anderson Cooper on Monday, that doesn't mean Democrats don't have one last big play to rein in the president's abuses of power. They can use the first and strongest authority delegated to them: the power of the purse.
"What can Democrats really do when it comes to oversight of the president?" asked Cooper. "I mean, now that impeachment is over, does seem like there are fewer and fewer guardrails, if any."
The depths of Trump’s paranoia: One person who may know him the best explains what’s ahead
President Donald Trump's biographer, Michael d'Antonio, knows a great deal about his life, his behavior, and his long history of paranoia. A piece in The New York Times Monday summed up the president's state of mind during the impeachment with one word: "paranoid."
Speaking to the long history of paranoia, d'Antonio recalled that in Trump's book The Art of the Comeback, he wrote ten tips for an effective comeback. No. 3, he said, was "be paranoid."
"He thinks that paranoia is an effective strategy when it comes to managing people and when it comes to doing business," said the biographer. "And I think all of the attitudes that we see him bring into the presidency are things that evidence themselves early in his life. So, he's never trusted people very readily and is very quick to identify someone as an enemy. And then try to root out those who aren't loyal enough. So paranoia is something that's always been a trait for the president, and he considers it a useful, even constructive thing."
Trump lawyer goes down in flames trying to explain away Bill Barr’s corruption
On Monday's edition of CNN's "Anderson Cooper 360," former federal prosecutor Elie Honig took former Trump White House lawyer Jim Schultz to the cleaners when he tried to defend Attorney General William Barr's conduct.
Schultz initially tried to claim that the 2,000 federal prosecutors calling for Barr's resignation had a political axe to grind. "You have a lot of folks that have a partisan agenda pushing this thing out, before the facts have really, have really been discovered, as it relates to what happened," said Schultz. "And Barr is vehement about stating that, you know, that decision was made long before any of the tweets, long before — and before the president made my statements on this matter ... he has to have the trust in the folks that are working below him."