Trump Was Poised To Inherit A Strong Economy. Then Things Got Rocky And He Added To The Uncertainty
HuffPost
Donald Trump's actions to undo a deal and replace it in under 24 hours test the proposition that markets will accept his mix of uncertainty and reality TV drama.
WEST PALM BEACH, Fla. (AP) — The smooth economy that Donald Trump was poised to inherit suddenly looks a bit rockier — with critics saying the president-elect is contributing to the uncertainty.
The Dow Jones stock index essentially ended Thursday flat after having posted 10 days of losses. The Federal Reserve now sees inflation as staying stubbornly elevated as it has become cautious about further interest rate cuts planned for next year.
On Wednesday, Trump blew up a bipartisan budget deal, which means the government could shut down after midnight Saturday. He then promoted a deal reached with Republicans on Thursday that Democratic lawmakers and President Joe Biden see as unacceptable. It failed to get the two-thirds threshold needed for House passage. This comes on top of a spate of tariff threats by Trump that the Congressional Budget Office said Wednesday would raise prices and hurt growth without raising enough revenues to cover the rest of his planned tax cuts.
As Trump prepares for a second term in the White House, his actions to undo a deal and replace it in under 24 hours test the proposition that markets — a favored Trump barometer of success — will accept his mix of uncertainty and reality TV drama.
But from the vantage of Trump world, the economy was already a mess. That’s because of inflation, which is currently 2.7%, and public dissatisfaction with Biden.
The "Late Night" host knocked Trump for pushing this "myth" on the campaign trail.
Elon Musk’s role in taking down a bipartisan budget deal shows his ascendance as a political force.
“They are simply doing the bidding of their wealthy donors and puppeteers,” the House minority leader said of Republicans in Congress. “Unacceptable.”
The lizards, which are native to Australia, are the first of their species to be bred at the zoo.
House Speaker Mike Johnson is back to square one after abandoning a bipartisan spending agreement earlier.
A federal judge who oversaw the seditious conspiracy trial of Oath Keepers led by Stewart Rhodes issued a bleak warning.
In one of his final messages shared with the public, Gergen told his daughter that America is "being tested now."
The former governor of New York has filed a legal notice that he intends to sue former aide Charlotte Bennett for making the allegation.
Donald Trump’s former national security adviser says Trump absolutely wants revenge against those who tried to hold him accountable after Jan. 6, 2021.
Despite their past support for eliminating the debt ceiling, top Democrats rejected the idea on Thursday.
Willis was accused of having a conflict of interest in the case because of a romantic relationship.