Top economic advisors are planning to present economic options to President Donald Trump for how to steady financial markets and short up the economy amid the coronavirus outbreak when he gets back to Washington from a campaign fundraiser.
Trump, who attended a fundraiser Friday night at his Mar-a-Lago property and visited his golf course over the weekend, is set to return to Washington Monday afternoon. First he had a fundraiser in a gated community in Orlando.
At the top of the list of economic proposals is paid sick leave. The virus outbreak, now being called a pandemic, has exposed how sick workers can put others at risk when they show up at the office to avoid losing pay. Uber and Lyft are taking steps to make sure their workers get paid if sidelined due to the coronavirus.
Advisors will present options to President Trump for dealing with the coronavirus and its impact on the economy
CNBC reported other ideas for economic stimulus would be included, with a full menu of options.
Officials have also been discussing ways to provide additional help on an emergency basis for small business owners. An $8.3 billion new coronavirus law the president signed Friday contains funds to help small businesses.
Trump’s Orlando funder was at the home of Bob Dello Russo, 69, and Dianne Russo. Guests paid up to $100,000 per couple for a roundtable, photo and reception. The event was expected to bank up to $3 million for Trump’s reelection effort. Dello Russo runs an HVAC company.
The home where Trump made his pitch for campaign cash inside a large tent measures 27,000 square feet and is located inside a gated community. It is fronted by two large palm trees and features a tall stone fountain surrounded by carved life-sized geese.
Pool reporters traveling with the president were prevented from taking a gander at happenings inside. Press members were held in a large garage attached to a rec room with a golf simulator. Staff prohibited them from taking pictures of the location where they were being held.
Trump flew back to Washington on Air Force One accompanied by Rep. Matt Gaetz (R-Fla.), who was criticized for wearing a large gas mask on the floor of the House when voting on an $8.3 billion spending bill responding to the health emergency.
The Trump administration elected not to bring out prominent financial advisor as financial markets tanked Monday morning amid coronavirus fears and moves in the oil markets.
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Trump attended a fundraiser at the Orlando home of HVAC company executive Bob Dello Russo, 69, amid the market drop and health emergency
The home featured a large stone fountain surrounded by three geese
Treasury Secretary Steve Mnuchin had no scheduled public events amid the market drop
White House chief economic adviser Larry Kudlow advised long term investors to buy on the dip Friday before the market took yet another dive
‘Politicians and the media to stop 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 09, 2020 in New York City. As global fears from the coronavirus continue to escalate, trading was halted for 15 minutes after the opening bell as stocks fell 7 percent
Trader peter Tuchman works on the floor of the New York Stock Exchange, Monday, March 9, 2020
President Donald Trump holds a photograph of coronavirus as Dr. If you have any questions concerning in which and how to use enjoyable atmosphere in which the team members both work hard and play hard. (https://Www.Yourlocaldirectory.online/texas/hutto/home-services/grande-air-solutions), you can speak to us at our own web-page. Steve Monroe,right, with CDC speaks to members of the press at the headquarters of the Centers for Disease Control and Prevention in Atlanta on Friday, March 6, 2020
LET’S SHAKE ON IT: Gov. Ron DeSantis, R-Fla., greets President Donald Trump as he steps off Air Force One upon arrival at the Orlando Sanford International Airport, Monday, March 9, 2020 in Orlando, Fla
ALL HANDS MEETING: Trump was to meet with his economic team in DC after shaking hands with supporters in Florida
President Donald Trump walks beside Florida Governor Ron DeSantis (R-FL) to greet presidential supporters after descending from Air Force One at Orlando Sanford International Airport in Sanford, Florida, U.S., March 9, 2020
Trump himself, who has trumpeted stock market gains throughout his tenure, didn’t respond to questions about the dive as he flew from West Palm Beach to Orlando for a campaign fundraising event.
Nor did the administration send out top economic advisor Larry Kudlow, who on Friday spoke to four financial markets amid concerns about the coronavirus.
‘Long-term investors should think seriously about buying these dips,’ Kudlow told CNBC Friday morning. Kudlow, who heads the National Economic Council, also encouraged people to buy the dip in the down market in a Feb. 25th interview with the Washington Post. Kudlow told the Fox Business Network Friday: ‘Long term investors should think about going back into the stock market because there’s a lot cheaper price.’
Health and Human Services Secretary Alex Azar told reporters the markets have ‘obviously been very active today.’
‘The fundamentals in this economy are unbelievable,’ the former drug company exec said.
He said Trump was leading a ‘whole of government response,’ adding, ‘that is his number one concern.’
He refused to take questions, pointing to a Mike Pence coronavirus briefing set for 5:30 pm. ‘I’ll see you all later today I’m sure,’ Azar said.
Trump claimed that the market trends are ‘good’ for consumers as the U.S. Dow drops 7 per cent when markets opened Monday morning.
Donald Trump claimed Monday morning that the market drop is ‘good for the consumer’ because gasoline prices are coming down
In continuing to downplay the threat of coronavirus, he claimed the media and Democratic Party are trying to ‘inflame’ the situation in the U.S.
‘Good for the consumer, gasoline prices coming down!’ Trump tweeted Monday.
‘Saudi Arabia and Russia are arguing over the price and flow of oil,’ Trump continued in another tweet Monday morning. ‘That, and the Fake News, is the reason for the market drop!’
White House Press Secretary Stephanie Grisham appeared on Fox News Monday morning, where she accused politicians and the media of politicizing the disease outbreak.
‘You know, I’ve said this before and the president’s said this before as well. I just want to stress to politicians and the media to stop using this as a tool to politicize things and to scare people. It’s not responsible. This is not the time for this,’ she said.
‘People need to be looking to the [Centers for Disease Control] for guidance. People need to be, again, washing their hands, treating this like a flu, making responsible choices. This is absolutely not the time to be trying to scare people to gain political points or to get headlines,’ she said.
Trump visited the CDC Friday, where he spoke about the virus and wove in statements about impeachment and his phone call to the president of Ukraine while wearing a ‘Make America Great’ baseball hat.
CNBC Now on Twitter: “BREAKING: White House aides are set to meet with President Trump later today and will present economic stimulus ideas to him to respond to the coronavirus fallout – three senior admin. officials tell @EamonJavers… htt …