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Added on the 13/06/2019 17:03:54 - Copyright : Wochit
Joseph LaVorgna is the chief economist at the National Economic Council, and is an economic adviser to the Trump administration. And according to Business Insider, LaVorgna on Friday said he felt there was no rush to release a second coronavirus stimulus package. LaVorgna said that despite a disappointing Friday jobs report, he doesn't 'believe the recovery at the moment is in jeopardy.' On Friday, the jobs report that said 10.7 million Americans were unemployed in November. Congress is considering a $908 billion stimulus proposal after months of negotiations. It does not include a $1,200 direct payment.
President Donald Trump's fourth Chief of Staff, Mark Meadows, is not winning any popularity contests among the president's aides. In a jaw-dropping exchange Sunday with CNN's Jake Tapper, Meadows said bluntly, 'We are not going to control the pandemic.' A Trump campaign adviser said there is widespread frustration over Meadows' comments, as well as his leadership more broadly. Sources say Trump remains displeased with how Meadows handled the crisis surrounding his own bout with coronavirus. Early in the crisis, Meadows came to view the White House coronavirus task force, led by Vice President Mike Pence, as largely irrelevant. He has not intervened as Dr. Scott Atlas, a radiologist with no experience in public health, undermines health experts and poo-poos mask-wearing. Besides downplaying the pandemic, Meadows has encouraged Trump to carry on his large-scale rallies, despite a nationwide surge in cases.
Fed Chair Jay Powell warned on Tuesday that the US economy would suffer if another stimulus package isn't passed, which remains stalled in Congress. House Democrats passed a $2.2 trillion stimulus plan earlier this month, but Sen. Majority Leader Mitch McConnell (R-Ky.) called the amount 'outlandish.' Too little support would lead to a weak recovery, creating unnecessary hardship for households and businesses. Jay Powell Chair, US Federal Reserve But according to Business Insider, White House economic advisor Larry Kudlow said Sunday that he doesn't agree with that assessment. We are in a strong rebound. Businesses are reopening. We are learning to deal with the virus in a targeted, safe, prevented way. White House Economic Adviser Larry Kudlow Interview, CNN's 'State of the Union'
Canadian Finance Minister Chrystia Freeland unveils the government's budget proposal for 2024 to the House of Commons in Ottawa. IMAGES
President Joe Biden will unveil a proposed budget on Thursday that would reduce the national deficit by $3 trillion over the next decade, White House Press Secretary Karine Jean-Pierre tells reporters. SOUNDBITE
The social security deficit will be lower than expected this year and "we expect a strong improvement in 2022" to 21.6 billion, says France's Public Accounts Minister Olivier Dussopt in Paris. IMAGES
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