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