President Trumps and his Presidency is going to much like many of his businesses be viewed poorly. There no getting around that fact and the videos of him talking up massive tax breaks that in hindsight seem poorly planned.
Given now the US is in the middle of the worst pandemic it has faced since 1918 "President Trumps own words". The debt has increased by a historic level while other countries outside of Italy and a few others have seen reductions in cases an sooner will be better off. "
More and more there is a feeling around Wall Street that Trumps lack of aggressive efforts early on has put the US economy in the short term in jeopardy". As a member of the Fed said we could be looking at 20 percent unemployment by July. "
"You can tell there is a panic around Wall Street an recent comments by President Trump on quarantining New York has made them even more upset. This is not a good situation right now.
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It’s been an historic week for the U.S.
with president Donald Trump signing a record $2.2 trillion coronavirus-induced emergency stimulus package.
The massive cross-party rescue deal is designed to help Americans and businesses cope with
the economic shutdown caused by the coronavirus COVID-19 pandemic.
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"The U.S. dollar has taken a beating, however, dropping almost 4% against a basket of currencies this week—its biggest weekly loss since the height of the global financial crisis over 10 years ago."
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This week’s losses come on the back of the dollar index’s biggest weekly gain since the financial crisis, with the dollar surging as investors scrambled for the world’s most liquid currency
amid crashing stock and debt markets.
“In short-term, huge dollar demand because short-covering, but it won’t last,” Wall Street veteran and founder of Wyoming-based crypto bank Avanti, Caitlin Long, said via
Twitter, adding she expects the U.S. Federal Reserve’s balance sheet to top $10 trillion before the coronavirus crisis is over and predicting the dollar’s eventual .
The Fed has also cut its benchmark interest rate to near zero and made sure commercial banks will continue lending to companies, cities and states—all told the extraordinary measures are expected to grow the Fed’s balance sheet by $4.5 trillion this year.
Throughout and in the aftermath of the global financial crisis the Fed grew its balance sheet by a paltry $3.7 trillion.
“The beautiful thing about our country is $6.2 trillion—because it is 2.2 plus four [combining the Fed’s action and the cross-party rescue bill]—it’s $6.2 trillion, and we can handle that easily because of who we are, what we are,” Trump
said, speaking after the bill’s historic White House signing ceremony, and boasting the package was “twice as large” as any prior relief bill.
The bill will see individuals and companies whose livelihoods and businesses have been affected by the coronavirus pandemic receive direct payments, with every American earning less than $75,000 per year picking up a one off payment of $1,200, as well as $500 per child.
“It’s our money; we are the ones, it’s our currency,” Trump said."
https://www.google.com/amp/s/www.fo...and-the-fed-are-destroying-the-us-dollar/amp/
