The Young Turks CEO on Trey Gowdy's Resignation: "It's Huge"
House Oversight Committee Chairman Trey Gowdy became the latest Republican to say he’s leaving politics.
Cenk Uygur, the CEO of The Young Turks, called the recent trend “unprecedented.”
"That means their poll numbers are disastrous. They think 2018 is going to be a landslide and a complete wipeout," Uygur told Cheddar.
Gowdy, a Republican from South Carolina, said in a tweet Wednesday that he wouldn’t run for re-election in the 2018 midterms and would instead return to the justice system.
His decision carries even more importance considering his position on the Oversight Committee, which has not yet completed its investigation into Russian interference in the 2016 election. The previous Chair, Jason Chaffetz, stepped down in June.
"It would be shocking if it was a coincidence that everybody in Oversight is now saying, ‘I gotta get the hell out of there,’" Uygur said.
The loss of Gowdy comes as the GOP is increasingly at odds over how to work with the Trump administration. Some Republicans in Congress are trying to rein him in while others are standing behind him. Uygur speculates this sentiment has motivated Republicans to step down.
For full interview, [click here](https://cheddar.com/videos/young-turks-founder-cenk-uygur-weighs-in-on-rep-trey-gowdys-retirement).
Jill and Carlo are a bit delayed today on account of Carlo's internet not working. Better late than never, they discuss what we know about the suspect in the Christmas parade crash, closing arguments in the Arbery killing trial, and more.
Stocks began the week closing at session lows on a day when bond yields rose and President Biden decided to stick with Jerome Powell as Fed Chair. Bryan Lee, Chief Investment Officer at Blue Zone Wealth Advisors, joins Cheddar News' Closing Bell, where he breaks down the day's activity and discusses what the Fed now needs to do going forward.
President Joe Biden announced Monday he is re-nominating Federal Reserve Chairman Jerome Powell after weeks of speculation that he would choose Democrat and Fed Governor Lael Brainard to fill the role. Biden could be looking for continuity as the U.S. continues to grapple with COVID-19 and high inflation, and investors could be on the same page: markets and treasuries ticked up after the White House made the announcement. MarketWatch Senior Reporter Greg Robb joins Cheddar News' Closing Bell to discuss Powell's re-nomination, what we can expect from the Fed's December meeting, whether it will speed up its taper timeline, and more.
President Joe Biden named Jerome Powell, initially appointed by President Trump, to keep his seat as the chair of the Federal Reserve on Monday amid the ongoing challenges of the pandemic, inflation, and unemployment. David Beckworth, a former international economist for the Treasury Department and a senior fellow with the Mercatus Center, joined Cheddar to discuss what he sees as the practicality of Biden's decision. "What Powell brings to the table is he's built up political capital with Republicans and Democrats," he said. "It's easy for him to get the job done. I think in one way he was the path of least resistance for the president."
In a surprise turn of events, Elizabeth Holmes took the stand in her own defense on Friday and is expected to continue her testimony later today. Holmes, who founded a blood testing start-up Theranos back in 2003, faces 11 counts of wire fraud as well as conspiracy to commit wire fraud. Aron Solomon, Chief Legal Analyst, Esquire Digital joined Cheddar's Opening Bell to discuss.
Jill and Carlo cover the developing story out of suburban Milwaukee, where a speeding SUV careened through a Christmas parade. Looters get more brazen in San Francisco, the missing Chinese tennis star resurfaces, and more.
Michael Tubbs, former Mayor of Stockton, California and author of 'The Deeper the Roots,' joined Cheddar Movers to talk all about his new memoir, and his ongoing fight to make meaningful change in his community.
