Powell, the Federal Reserve Chairman whose monetary policy has played a crucial and salutary role in softening the economic effects of the pandemic, had said earlier that the absence of further fiscal assistance would severely slow the nation’s recovery.
Then yesterday, fresh from ‘deep’ introspective moments while hospitalized at Walter Reed Hospital for a few days, Trump rebuffed Powell, saying there would be no further fiscal aid until after the election.
The message is clear. Elect me and you’ll have the money.
It’s the message of a drowning man.
The message of a man who could not find a way to govern the nation, a man who has only 105 days left in the White House and only 27 days before he watches on his adored Fox News, that Biden/Harris beat him soundly.
Soundly. As in not by a thin margin.
Meanwhile, there will be privations and hardship for those who have lost jobs that are not coming back as the economy restructures.
But their troubles are not Trump’s concern.
Republican lawmakers, meanwhile, are mum about their leader’s whims. They’re hoping against hope that Trump will pull off another miracle. But it won’t happen. We’ve had it.
Twenty seven days from now, after the vote comes out in favor of Biden/Harris, these same lawmakers, no longer feeling bound to the president, will rush to stand up against him and join with the democrats to pass a delayed stimulus bill and so stave off a grim Christmas.
Trump’s decision to not move forward with the stimulus bill is petty. Manipulative. Cold.
He’s going down because of the cumulative weight of his poor decisions and doesn’t mind piling on yet another burden on people without jobs.
But people who will not have enough will remember. Remember Trump and his lawmakers.
PS: Trump, sinking as he is in the eyes of the nation, cannot resist the chance of seeing how the markets react to his decisions. It feeds his vanity. He will need to really feed it, though, because the election results will deliver much grief.