Top economic advisors are planning to present economic options to President Donald Trump to stabilize the financial markets and shorten the economy amid the coronavirus outbreak when he returns to Washington from a fundraising campaign.
Trump, who attended a fundraiser on his estate in Mar-a-Lago on Friday evening and visited his golf course at the weekend, will return to Washington on Monday afternoon. First he had fundraising in a gated community in Orlando.
Sick leave is at the top of the list of economic proposals. The virus outbreak, now called a pandemic, has demonstrated how sick employees can put others at risk when they get to the office to prevent them from losing their wages. Uber and Lyft are taking steps to ensure that their employees are paid if they are sidelined due to the corona virus.
Counselors will present options to President Trump for dealing with the corona virus and its impact on the economy
CNBC reported that other ideas for economic stimulation would be included, with a full range of options.
Officials have also discussed ways to provide additional assistance to small business owners in an emergency. A new $ 8.3 billion coronavirus law signed by the president on Friday includes funds to help small businesses.
Trump’s financier in Orlando was with Bob Dello Russo (69) and Dianne Russo. Guests paid up to $ 100,000 per pair for a round table, photo, and reception. The event was expected to raise up to $ 3 million for Trump’s re-election effort. Dello Russo runs an HVAC company.
The house where Trump earned his pitch for campaign money in a large tent measures 27,000 square feet and is located in a gated community. Pool reporters traveling with the president were held in a large garage with a golf simulator. Staff prohibited them from taking photos of the location where they were being held.
The Trump government chose not to bring out a prominent financial adviser, as the financial markets filled up Monday morning amid angon and coronavirus fears and movements in the oil markets.
Finance Minister Steve Mnuchin had no planned public events in the midst of the market decline
Larry Kudlow, White House economic adviser, advised long-term investors to buy on the Friday dip before the market plunged again
“Politicians and the media are stopping using this as a tool to politicize things,” said White House press secretary, Stephanie Grisham
Traders work on the floor of the New York Stock Exchange (NYSE) on March 9, 2020 in New York City. While global fears of the coronavirus continue to escalate, trading was stopped 15 minutes after the opening bell because shares fell 7 percent
Trader Peter Tuchman works on the floor of the New York Stock Exchange, Monday 9 March 2020
President Donald Trump has a photo of coronavirus, while Dr. Steve Monroe, right, with CDC speaking to members of the press at the Centers for Disease Control and Prevention headquarters on Friday, March 6, 2020 in Atlanta
Trump himself, who has trumpeted profits in the stock market during his tenure, did not respond to questions about the dive when he flew from West Palm Beach to Orlando for a fundraising campaign.
The administration also did not send out top economic adviser Larry Kudlow, who spoke with four financial markets on Friday amid concerns about the corona virus.
“Long-term investors need to think seriously about buying these dips,” Kudlow told CNBC on Friday morning. Kudlow, who leads the National Economic Council, also encouraged people to buy the dip in the down market in an interview on February 25 with the Washington Post. Kudlow told the Fox Business Network Friday: “Long-term investors should consider going back to the stock market because there is a much cheaper price.”
Trump claimed that market trends are “good” for consumers because the US Dow drops 7 percent when the markets open on Monday morning.
Donald Trump claimed Monday morning that the market decline is “good for the consumer” because gas prices are falling
By trivializing the threat of coronavirus, he claimed that the media and the Democratic Party are trying to “ignite” the situation in the US
“Good for the consumer, gas prices are falling!” Trump tweeted Monday.
“Saudi Arabia and Russia are arguing about the price and the oil flow,” Trump continued in a tweet on Monday morning. “That, and the fake news, is the reason for the market decline!”
White House Secretary-Secretary Stephanie Grisham appeared on Fox News on Monday morning, accusing politicians and the media of politicizing the outbreak of the disease.
“You know, I said this before and the President said this before. I just want to emphasize politicians and the media to stop using this as a tool to politicize things and scare people. It is not responsible. This is not the time for this, “she said.
‘People have to go to it [Centers for Disease Control] for guidance. People need to wash their hands again, treat it like a flu, make responsible choices. This is definitely not the time to scare people to get political points or headlines, “she said.
Trump visited the CDC on Friday where he talked about the virus and intertwined with statements about accusation and his phone call to the President of Ukraine while wearing a “Make America Great” baseball hat.