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.
Congressman blasts ‘tough guy’ Lewandowski for blowing off hearing: He wants to ‘launch his senatorial campaign’
On Tuesday's edition of CNN's "The Situation Room," House Democratic Caucus chairman Hakeem Jeffries (D-NY) laid into President Donald Trump's former campaign chairman Corey Lewandowski for his aggressive behavior before the House Judiciary Committee.
"As you know, Democrats want to call other witnesses for this impeachment investigation," said anchor Wolf Blitzer. "Do you worry, though, that Lewandowski set the precedent for not cooperating?"
"Well, Lewandowski portrayed himself as a tough guy," said Jeffries. "He's a likely candidate for a Senate seat in New Hampshire. And he was there probably to try to launch his senatorial campaign, not to take seriously his responsibility as a witness to participate in this hearing on behalf of the effort to find the truth for the American people. But that is okay. Because the American people can judge Lewandowski based on what they've seen from today and in terms of whether he was participating in a cover-up or participating in effort to reveal information to the American people."
Trump challenger unloads on GOP for canceling primaries in his home state: ‘What you see in third-world republics’
Former Rep. Mark Sanford (R-SC) on Tuesday unloaded on the Republican Party for canceling the presidential primary in his home state in a seeming effort to prevent him from challenging President Donald Trump for the nomination.
During an interview with CNN's Kate Bolduan, Sanford accused the South Carolina GOP of acting more like apparatchiks for a dictatorship rather than a political party.
"I think is what you see in third-world republics, closer to what you see in a lot of places around the world where elections and debates are snuffed out based on raw political might," he charged.
CNN’s Toobin rips White House silencing Lewandowski before hearing: ‘Outlandish — and legally unjustifiable’
Addressing former Donald Trump campaign manager Corey Lewandowski's appearance before a House committee on Tuesday, CNN legal analyst Jeffrey Toobin bashed the White House for telling him to divulge nothing to his questioners.
Speaking with host John Berman, Toobin explained that Lewandowski would be performing for the president during the hearing and lawmakers should expect combative answers when they get any answers at all.
"The White House is claiming privilege for everything beyond the information provided in portions of the [Mueller] report that have already been disclosed to the committee," Berman prompted. "Presumably Lewandowski will be able to answer questions for things that are in writing in the Mueller report, just nothing beyond that."