The International Monetary Fund thinks global economic growth will increase from 2.9% in 2019 to 3.3% this year. But an IMF official said the coronavirus will have an impact on first-quarter growth. Robert Kaplan, the president of the Dallas Reserve Board, told the press to expect moderate growth in 2020. Kaplan also said not to expect interest rate cuts this year.
The coronavirus will hurt economic growth in the first quarter. How much growth-loss is a hot topic. China could suffer a 2.5% GDP growth loss at the end of March. And the U.S. may take a ½% hit, according to Fed Chairman Jerome Powell.
Rod Blagojevich let the press know he’s a Trump fan now that the former Democratic governor got a get-out-of-jail-free card from Mr. Trump. Rod’s been wearing an orange jumpsuit for the last eight years for trying to sell Obama’s old Senate seat and pocket the money.
Mr. Trump pardoned several big campaign donors without following normal procedures to show the Democrats he calls all the shots, according to the New York Times. Mr. Trump claimed the title top law enforcement official after Bill Barr told him to stay out of Department of Justice business.
The Middle East peace plan hit a brick wall when the Palestinians told Ben Netanyahu they would never agree to the terms of the agreement. Palestine wants Trump to butt-out of the Middle East, but Ben needs Trump’s support to win the March 2nd election. But even with President Trump’s support, Netanyahu can’t form a new government. Ben goes on trial March 17th for allegedly taking bribes and several other criminal charges.
The coronavirus continues to keep Chinese factories and retail stores closed. The government claims 70% of the factories are back in business, but Apple claims it can’t find enough workers to keep its factory running. Apple told Wall Street first-quarter earnings projections are in the toilet. Most American companies that have a presence in China won’t meet revenue expectations, according to MarketWatch.
Europe worries about putting up with President Trump for another four years. Mr. Trump continues to threaten the EU with additional tariffs. He recently added tariffs to the aviation sector of Europe’s economy. According to The New York Times, EU leaders also think four more years of Trump will compromise American democracy and its credibility around the world. A German official thinks Trump doesn’t live on the same planet as he does based on Trump’s stand against climate change initiatives, his fight with Iran, and his tech war with China.
Dil Bole Oberoi
