President Trump is warning of an economic crash if he loses reelection.
President Trump is warning of an economic crash if he loses reelection, arguing that even voters who personally dislike him should base their ballots on the nation’s strong growth and low unemployment rate.
Some of Trump’s closest advisors have urged him to lower the temperature of the trade dispute, fearing that further tariffs would only hurt American consumers and rattle the markets further. The president blinked once this week, delaying a set of tariffs in an effort to protect holiday retail sales. Trump has spent much of the week at his New Jersey golf club, many of his mornings on the links, his afternoons watching cable television and his evenings calling confidants and business executives to get their take on the market’s volatility.
Consumer confidence has dropped 6.4% since July. The pessimism could worsen if the Fed decides to slash rates in accordance with Trump’s wishes.“Additional cuts in interest rates would act to increase consumer apprehensions about a potential recession,” said Richard Curtin, director of the survey. Congress could approve the updated trade agreement among the United States, Canada and Mexico — which would stabilize the North American manufacturing supply chain. Secondly, the government could renew the soon-to-expire charter for the Export-Import Bank. But reconciling the situation with China is tricky because it involves negotiations between two countries with competing interests.
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