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- The economic shock from coronavirus will hit the US just as Americans are deciding who to vote for in November 2020. It's not a question of "if." It's a question of "how hard?"
- This will be a complicated problem to fix too. It's both a supply and a demand shock, and it will hit the US economy where it already hurts — manufacturing — while slowing its strongest part as well — consumer demand.
- This is also not a good time for Americans to be holding the most household debt in history, but here we are.
- The shock could hurt President Trump' reelection chances since his strongest campaign message to swing voters is the strength of the economy.
- This is an opinion column. The thoughts expressed are those of the author.
- Visit Business Insider's homepage for more stories.
The coronavirus has arrived in the United States, and it is set to put the economy on a downward trajectory just as Americans are deciding who to vote for in November.
This is bad news for Donald Trump. The president's strongest approval ratings are in his handling of the economy. His basic pitch to ambivalent voters is that they should stick with him because the economy is "the best it's ever been." An economic downturn would undermine this entire argument.
See the rest of the story at Business Insider
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See Also:
- The Fed's move to cut interest rates to soften the economic blow from the coronavirus was a panic move, which is why the market's positive reaction was short-lived
- The Federal Reserve's coronavirus-driven interest rate cut was exactly the right move
- To effectively respond to the coronavirus, we all have to step up and fulfill our civic duty
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