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Trump's Poor Response to National Protests, WHO Withdrawal Mid-COVID
Ben White, Chief Economic Correspondent for Politico, provides his perspective on the big news in US politics:
How is the White House responding to the mass protests and riots happening nationwide?
Well, in no significant organized way. A lot of presidential tweets on all sides of the issue but leaning towards law and order and criticizing ANTIFA. He has not showed an inclination to try and heal the nation, which is not something that's in his nature. So, no real organized, clear response.
What does America gain and lose by leaving the W.H.O.?
Well, it really gains nothing by leaving. Risks losing access to clinical trials, possibly to drugs that would be helpful in the fight against coronavirus and certainly not going to help get a lot of answers on China's response. So, it's a spiteful thing that is not going to bring the United States a lot of good results.
Where is the US in the fight against the coronavirus?
Well, we are up and down. We are doing well in the Northeast, in New Jersey and Connecticut and New York, cases going down, things looking better. But some places in the Midwest like Wisconsin and elsewhere, cases on the rise. So, we do not have it beaten and there is some risk of further outbreaks and spread from all of these riots and people not social distancing.
Will the US stave off depression? Will Biden unite Democrats?
Ben White, Chief Economic Correspondent for Politico, provides his perspective on the news in US politics: Is the US doing enough to fight off a prolonged recession or depression?
I'd say the Fed, the central bank is doing enough with its giant programs that it has rolled out over the last couple of weeks. Congress did a good job with the first $2 trillion package. Needs to do more in help for small businesses, States and localities, and hospitals. So, no partisan fighting, more passing of bills.
What does Joe Biden need to do to unite the Democratic party now that Bernie Sanders is out?
I don't think he has to do a ton, there's a lot of unity to beat Donald Trump. And a lot of the hard core, Bernie Dems are in blue states like New York and California. That said, it would be good if he reached out to them on health care and the environment in ways that don't alienate moderate suburban swing voters.
Is the new OPEC oil deal to cut production a big win for Trump and the US economy?
Well, it's something of a win, although 10 million barrels cut does not match the drop in demand. Oil prices stop their tanking, but they're certainly not rising. So, I'd say a moderate win for Trump, a moderate win for the US economy, but not a blockbuster
Coronavirus Update, US Congress Response & Legislation
Ben White, Chief Economic Correspondent for Politico, provides his perspective on the coronavirus-related news in US politics: What's the coronavirus update?
Well, we've gotten at least a little bit of good news that perhaps the rate of deaths in New York City is plateauing and may start to come down. God willing, we'll see if that comes to pass. Also, some indications that if we keep social distancing in place through the end of May, we could see fewer deaths than we worried about and fewer hospital beds need it. So, God willing, that happens.
Do I expect to see any significant movement in the coming weeks that would impact the economy?
I think yes, Congress will at some point come back with another coronavirus package that would be more money for small businesses, more money for states, possibly some infrastructure, but I doubt it.
Is there any other legislation coming out of Washington besides coronavirus?
No, there's not. Congress isn't even in D.C. They'll come back just to do another coronavirus package. But nobody is particularly interested in anything else at this point.