CNN Money reporter Cristina Alesci on Wednesday said there were many reasons for Americans to worry about a coming recession — and not just the inverted Treasury bond yield curve that has sent stock markets plunging.
During an interview with CNN’s Poppy Harlow, Alesci broke down what it means when the yield curve inverts and why it is not the only signal that a recession could be on its way.
“Usually when you have an inverted yield curve that is proceeded by a recession,” she explained. “We are in an abnormal environment, so no one really knows where we’re going to go from here. But here’s the thing: Warning signs of a recession are flashing everywhere. Investors were really optimistic and perhaps saw the delay in tariffs as a sign Trump wanted to get a deal done with China before the election. This morning, I called it: They’re waking up and realizing maybe not, maybe he’s going to drag this through the election.”
Financial Times editor Rana Foroohar then chimed in to say that it may still take investors a while to fully realize that there won’t be a trade deal done with China within the next year at least.
“You’re going to see the president, particularly in the runup to 2020, trying to smooth things over, keep the market up,” she said. “I think the market is not buying this anymore. I think we’re seeing a lot of jitters and it’s going to be a downward trend.”
Watch the video below.
Fiona Hill’s attorney rips the administration: Trump ‘co-opted’ US foreign policy for his own ends
On Thursday's edition of CNN's "Anderson Cooper 360," National Security Council official Fiona Hill's attorney, Ambassador Lee Wolosky, broke down the implications of his client's testimony.
"The phrase that she used to describe [E.U. Ambassador Gordon] Sondland's mission, a 'domestic political errand,' a lot of people have said that was a big takeaway from today, that sort of encapsulated what was going on here," said Cooper. "Does she agree?"
"Well, yeah," said Wolosky. "As she testified to, I think that what she began to notice is that, in fact, this really wasn't an irregular or shadow foreign policy effort, as some people have called it. It was actually domestic politics. She was doing national security, as were others, and foreign policy, and Sondland and Giuliani were taking steps to advance the political interests of the president. And I think that what she crystallized is how pernicious it can be when our national security and when our foreign policy decision making is basically co-opted or held hostage to the individual political interests of one individual."
‘Rudy Giuliani is the fall guy here’: CNN analyst says America’s Mayor was ‘meddling in everything’
On Thursday's edition of CNN's "OutFront," political analyst Gloria Borger suggested that President Donald Trump may just decide to cut his losses on the Ukraine scandal and blame his attorney Rudy Giuliani for any wrongdoing.
"I think at this point maybe Trump needs a fall guy," said Borger. "Rudy Giuliani is the fall guy here. He's the guy who was meddling in everything. Everybody who testified seemed to make it very clear that Rudy Giuliani was doing this at the direction of the president of the United States. I think Gordon Sondland said that, what, 20 times yesterday at the direction of the president, so it's clear Rudy Giuliani wasn't freelancing, but maybe the president feels that he needs him right now."
Trump officials could not have been ‘completely clueless’ about what he was doing: CNN correspondent
On Thursday's edition of CNN's "The Situation Room," White House correspondent Abby Phillip highlighted how Fiona Hill's testimony made the claim by other officials that they weren't aware of the scheme to extort dirt on former Vice President Joe Biden from Ukraine much less plausible.
"The idea Ukraine interfered in the 2016 election is completely unfounded," said Phillip. "This is important because it puts in context some of the other testimony we heard ... from Ambassador [Kurt] Volker and another top NSC official, Tim Morrison, who replaced Fiona Hill, that the conspiracy theory was a legitimate function of the government, it was okay for President Trump to seek that kind of investigation, was perfectly normal to them. And it wasn't until they learned 'Burisma' equaled 'Biden' they learned there was something weird or nefarious going on."