, which include slashing interest rates to zero, were aimed at countering some of the outbreak's impact on the U.S. economy.
Still, Scaramucci said there's more than a 90% chance that the U.S. economy could contract by between 4% and 6% in the second quarter this year. It's also "very, very likely" the same could happen in the third quarter, he added.Scaramucci's comments come as officials around thein efforts to slow the outbreak's spread. On Sunday evening, both New York City and Los Angeles announced entertainment venues will close and restaurants will be limited to takeout and delivery.
If the U.S. economy does indeed enter a recession, that would harm Trump's re-election chances, said the former White House communications director, who was fired by the president in 2017 after less than two weeks in the job. "I think it augurs for an electoral defeat for President Trump, particularly if we get a recession. You typically don't get a two-term president if you're in a recession in an election year," said Scaramucci, who's been a frequent critic of Trump.
"No one saw this coming, but those are the facts and that probably knocks him out of the box in 2020," he added.
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Stop running this garbage.
IOW go pull physical cash out of the bank and stuff it in the mattress. Banks might not survive the week.
Why?
Fuck that, FED is in PANIC and DESPERATION mode now. With the gargantuan mountain of debt out there. Gig economy. Phillips curve. Its curtains.
He’s a mouthpiece for this administration. Nobody blames the fed for this sell off; this sell off is a result of the administration’s absolute incompetence and negligence.
Ppl spent all their money on food supplies then needed an ER Cash Stash thats all. Walmart stock is UP CVS stock is UP Etc. just different sectors
Its understandable as the Fed cuts were driven by Trump threat to remove Powell as chief. Not sure Powell felt the need for the cut as yet.
The fed moved too late, unfortunately I agree with Trump on this one. Late and not enough money.
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