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.
John Quelch, Dean of Miami Herbert Business School, joins Cheddar News' Closing Bell, where he says the retail giant is acting in accordance to President Biden's new law banning goods from China's Xinjiang region. Quelch also elaborates on the importance of China in Walmart's overall strategy.
Cheddar's Chloe Aiello has our cannabis year-in-review, breaking down how several states legalized adult recreational use and greenlit medicinal use in 2021. She noted that while a cannabis legalization and decriminalization bill was introduced in Congress this year, potential FDA involvement in the industry, as well as a 25 percent excise tax, killed any chance the bill had of moving forward. Aiello also speculated that some form of cannabis reform could be rolled out in 2022, as the midterm elections draw closer.
Jim Worden, Chief Investment Officer at Wealth Consulting Group, joins Cheddar News' Closing Bell, where he says the period between Christmas and New Year's is difficult to predict due to a lack of institutional volume, with the Omicron variant adding even more uncertainty on Wall Street.
Prices at the pump this year reached a seven-year high, and a new forecast from GasBuddy shared with CNN predicts that gas prices will only continue to rise in 2022 and that the national average could even reach $4.00 a gallon; however, analysts at GasBuddy say anything could happen when it comes to gas prices in the future, as the pandemic has made it difficult to make any predictions about the economy. Consumer Energy Alliance federal policy advisor Michael Zehr joins Cheddar News' Closing Bell to discuss.
