Recession Fears Grow

Politics

(NBC News) – (8/19/19) This week’s stock market commotion wasn’t the only noise being made about the U.S. economy.

President Trump called the CEOs of three of the nation’s biggest banks Wednesday to talk about the market turmoil.

The executives told the president consumers are doing well, but there’s concern about the trade war with China.

“Privately he is conceding that there are some problems and the U.S. economy maybe weakening, and there are economic signals out there that that is actually happening,” says MSNBC’s Ali Velshi.

At a campaign rally in New Hampshire Thursday night, the president claimed the economy would suffer if he loses the 2020 election.

“You have no choice but to vote for me because your 401(k)s, down the tubes, everything’s going to be down the tubes. So whether you love me or hate me, you got to vote for me,” Mr. Trump told the crowd.

Recession fears grew again friday when the Commerce Department revealed a sharp drop in construction of new housing, a possible indicator the economy is weakening.

Read more here.

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