The backdrop of the 2020 presidential election has changed dramatically amid the coronavirus pandemic, but conservative policy analyst Steve Moore says President Donald Trump needs to double down on the economic policies of his first term to win over the electorate.
"Trump is going to have to be able to make two cases," Moore told Cheddar. "Number one, that he was the president who won the war against the virus, and God willing that will happen, and second of all, that he has a plan to put in place the very policies that he put in place in 2017 that worked."
But that doesn't mean it's going to be easy for Trump. A poor economy has historically been bad news for incumbents. Look no further than single-term presidents George H.W. Bush and Jimmy Carter.
"It's a brand new ball game when it comes to the presidential election. It looked like a month ago that Trump was going to win a landslide election. Now it's going to be a dog fight right to the end," he said.
For Moore, who founded the Committee to Unleash Prosperity that advocates against government spending and regulation, the fiscal and monetary stimulus are secondary to reopening up the economy as soon as possible.
He points to the steady drip of positive news coming out of states that have started to flatten the curve of infections, even as deaths rise. "This is an indication that we are getting much closer to the date at which we can reopen the economy. This is the most critical thing. It doesn't matter how many trillions of dollars of liquidity the Fed puts into the market. It doesn't matter how many trillions of dollars of spending Congress does. Those are of secondary importance to getting Americans up and working."
Moore proposed a rolling restart to the economy, in which areas less hard-hit by the virus open their businesses on a limited basis.
"We have to have testing. We have to have the best medical know-how in place," he said.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
