Why is the president held accountable for the economy
Trump will be held accountable for economic downtown due to coronavirus, says Sandhill Strategy's St
ayman welcome we've seen a little bit of
choppy market action today kind of
drifting lower earlier as there's was
some concern like we heard from our
market guests this morning that the
president might not deliver the goods so
to speak what should we expect to hear
from him at 3:00 p.m. well look I think
you can expect a gusher of news here
starting in about 15 minutes out of
Washington where both the Capitol and
the White House are fully open for
business in terms of getting legislation
done drew Hamill who is one of the
speaker's top aides has been tweeting
out the number of times that Pelosi and
minuchin have spoken today the most
recent one he said they've spoken six
times as of 1250 p.m. and it was shortly
after that sixth phone call between the
two the Nancy Pelosi's office scheduled
this 2:00 p.m. announcement up on
Capitol Hill we don't know what she's
going to be announcing so this is a case
of Deal or No Deal she's going about an
hour before the President of the United
States who will be in the Rose Garden at
3:00 p.m. as you point out not it not
clear entirely what he's going to
announce there either we do expect a
national emergency declaration but we
don't know if he's going to invoke the
invoke the Stafford Act or the full
powers under the Stafford act yesterday
he suggested maybe he would just do some
of the minor pieces of that without
specifying what that is we have been
asking aides here and senior
administration officials all day what
the president's going to do what that
might look like
what powers that's going to unlock no
answers forthcoming from anybody here at
the White House said this is going to be
one of those where we all sort of
learned this in relatively close to real
time Kelly and Stephanie you think the
bigger picture here is that the
president's looking less and less likely
to get reelected yeah I mean the last
time he spoke the Dow in the futures
market lost a thousand points the
confidence in him and what this
administration is doing for the economy
is rather low right now
I think he's got he made a very
interesting decision the White House
clearly made a decision to make the
statement during market hours and so it
has to be more than just declaring a
state of emergency I think they're going
to have to deliver something to try to
get some confidence back in the market
but you know the economy is not the
market and the reason them for the
market sell-off is just complete lack of
hope that there could be an economic
sort of rebound or maintain where we
were even just a couple months ago and
that heading into the election a bad
economy is gonna be really hard for him
to win reelection even the the fact that
speaker Pelosi is going at 2:00 p.m.
before the president's announcement does
that is that the fruit of her calls with
minutiae maybe leading towards some
coordinated action in a good way or does
it suggest there might be some friction
and now she wants to be the first one to
the podium look I'll tell you what in
the old days in Washington if there was
a deal what you might have is the
Speaker of the House waiting for the
President of the United States to
announce it first and then the speaker
would go or follow-up more or less
simultaneously with the release of his
or her own this is an entirely different
era much more factionalized the bitter
partisanship but you know I'd hate to
read too much into it the one thing I
can tell you is that aides right after
we and others reported that we were
expecting the president to make a
national emergency declaration to talk
to one White House official who urged me
in the strongest terms not to report
that because in this officials view we
simply don't know until the president
says what he's going to say so we just
don't know at this point exactly where
the president's going to come down on
this and we don't know what that means
for Nancy Pelosi who put out a factsheet
last night if some of the elements that
were baked into the deal now after those
six phone calls back and forth you can
imagine the deal has shifted quite a bit
during the course of the day today today
and so we're dealing with a moving
target in the dark here Stephanie what
were you gonna say no I just I mean even
that's our such a great point about the
timing and the sequence of events the
clear lack of cohesion between the two I
think that most onlookers right now
we're not seeing leadership by any of
the elected leaders of our country the
Senate is gone right so senators are not
even in Washington anymore the house it
keeps saying they have to leave as soon
as possible and the president the last
time he commented to anyone at the
market didn't like any of it and so you
know people are looking for leaders
we're not we're not even seeing it it
just doesn't you know give me any
confidence that any of them are going to
be here after this November anyone who's
up interesting all right and that's the
backdrop for this big three p.m.
announcement although I'd like it said
- were here we'll hear from Pelosi first
guys thank you both
you
