As Twitter War Deepens, The Mooch Calls Trump an 'Unmitigated Disaster'
President Trump escalated his war of words with Anthony Scaramucci on Monday, calling the Mooch "highly unstable" in an early morning tweet storm. Scaramucci joined Cheddar to unpack the string of insults.
The Twitter tirades are “malicious, bullying of individual citizens, which is a form of fascism,” Scaramucci said. He also slammed Trump for attacking him while the “world is crumbling around him,” citing a slew of policy failures, such as the failure to sign a trade deal with China.
Scaramucci is the founder of Skybridge Capital and served as the White House communications director for 11 days in 2017. His brief tenure ended after he gave an expletive-filled interview disparaging other Trump administration officials.
When asked about his decision to accept the job in Trump's administration, Scaramucci said, “I made a mistake … but I think it is important to call out what’s going on for what it exactly is. And I intend to continue to do that."
Scaramucci also mentioned that he is working on an effort to find a Republican primary challenger to Trump in 2020.
"Let's try to re-engineer, re-establish where the Republican Party needs to go," although he said he is still trying to find potential challengers to the president.
Trump also drew the ire of the Mooch on Monday for attacking his wife — “a complete and total civilian,” Scaramucci said.
Rebecca Walser, President of Walser Wealth Management, joins Cheddar News' Closing Bell, where she discusses the factors behind Monday's surge on Wall Street and explains why investors will likely experience volatility in the market throughout the month of December.
Cheddar's Chloe Aiello joined "Closing Bell" to break down the progress of the SAFE Banking Act in Congress as cannabis businesses operators struggle to find financial institutions that will service them. Banks face steep federal penalties, including the risk of losing a bank charter, if found to be servicing marijuana businesses even if their state has legalized operations. Aiello reported that while there was some bipartisan support for the measure in the Senate, the bill faces some opposition from conservatives with "longstanding concerns" about cannabis and progressives who prefer a more comprehensive approach to reform.
Head of Instagram Adam Mosseri is slated to testify this week in front of the Senate Commerce Subcommittee after a Wall Street Journal report that found the Meta-owned social media platform is negatively impacting the mental wellness of teen girls.
Chinese regulators are reportedly behind China-based ride-hailing company DiDi exiting from the New York Stock Exchange, just days after listing earlier this year. The regulators stated prior that DiDi had not received the necessary clearances to list in the states. Gordon Chang, Asian affairs expert, joined Cheddar to break down what the delisting says about the relationship between nations. "This really strikes me as an attempt to really to force a decoupling of China and the U.S. in the financial markets," Chang said.
U.S. Futures were pointing to a higher open to round out the week despite a miss on the November Jobs Report, which showed slower job growth than expected-- and as the omicron variant continues to spread across the country. Patrick Healey, Founder & President at Caliber Financial Partners joined Cheddar's Opening Bell to discuss.
Just days after the detection of the Omicron variant, the World Health Organization has agreed to start the process of establishing a global pandemic treaty or accord. Amy Maxmen, senior reporter for Nature, and Dr. Samuel Scarpino, managing director for the Rockefeller Foundation's Pandemic Prevention Institute, joined Cheddar to discuss this effort and what lessons can be learned from the many COVID-19 failures as the world prepares for future pandemics.
It's a mixed bag for the November jobs report. Hiring slowed last month as employers only added 210,000 jobs, massively missing the estimate of 550,000. But there was one bright spot: the unemployment rate fell to 4.2%, with the number of unemployed people dropping to 6.9 million. Both of those numbers are considerably down from their highs at the end of the 2020 recession. Heather Boushey, a member of President Biden's Council of Economic Advisers, joined Cheddar to discuss the report and the state of the country's ongoing economic recovery.
