Trump Congratulates Self, Takes Swings at Disloyal Republicans
*By Carlo Versano*
There is an unspoken tradition in Washington that the president faces the press a day after a midterm election that revokes power from his party in Congress. When Democrats gained control of both houses in 2006, a humbled President George W. Bush called it a "thumping." In 2010, an equally-chastened President Barack Obama admitted his party took a "shellacking."
No such thing happened on Wednesday.
President Trump vacillated between subdued and combative as he called Tuesday's election ー in which Democrats took control of the House and several pivotal governorships ー a "very close-to-complete victory."
Trump took credit for the GOP's ability to maintain control of the Senate and blamed certain losses of House Republican candidates on their disloyalty. He praised Rep. Nancy Pelosi, calling her "very smart," but then warned House Democrats that he would have Senate Republicans probe their conduct, should they use their newfound subpoena power to investigate him.
In a nearly two-hour-long press conference from the East Room of the White House that began with a low-key statement but quickly deteriorated into a rollicking Q&A, the president ratcheted up his antagonism of the gathered press corps. He called CNN's Jim Acosta a "rude, terrible person" and excoriated PBS' Yamiche Alcindor for asking "a racist question" when she attempted to probe him on whether his rhetoric was emboldening white nationalists.
As the president spoke, the AP called the contested Montana Senate race for Jon Tester, one of the Democrats that Trump was reportedly most hoping to defeat.
Catching you up on the stories you need to know this morning, the U.S. could soon get its first major gun safety law in years, the House Select Committee investigating the January 6th attack on the U.S. capitol holds its second hearing, and today might just be the day the Supreme Court overturns Roe v. Wade, and decides on new gun laws.
U.S. stocks closed Thursday at their lowest levels of the trading day, as investors continue to eye inflation ahead of the May CPI report out Friday. Art Hogan, Chief Market Strategist for National Holdings, joins Cheddar News' Closing Bell to discuss.
The PGA has suspended 17 golfers, including Phil Mickelson and Dustin Johnson, who are competing in a Saudi-backed golf event outside of London. In a memo, commissioner Jay Monahan said "these players have made their choice for their own financial-based reasons", announcing they are ineligible to participate on the PGA tour or any other tours it sanctions. Hugh Kellenberger, Senior Managing Editor at the Athletic, breaks down the controversy, and what might happen next.
U.S. stocks closed Friday at session lows after May CPI data showed inflation in the U.S. has not peaked and is still rising rapidly. For the week, the S&P fell 5.06%, the Dow lost 4.58%, and the Nasdaq dropped 5.60%, marking the worst week since January for all three major indexes. Mike Zigmont, Head of Trading and Research at Harvest Volatility Management, joins Cheddar News' Closing Bell to discuss.
Benefits brokerage, Nava Benefits, raised $40 million in a Series B round. Nava says it's on a mission to fix healthcare, one benefits plan at a time. The startup is working to bring benefits to small business that are normally available to only Fortune 500 companies. Brandon Weber, Co-Founder and CEO of Nava Benefits, joined Cheddar News' Closing Bell to discuss.
