JUNE 16, 2020

Updated: Jun 17

Weekday Poll (Rasmussen) – June 16: Trump Approval at 44%

This represents a 1 point jump from the last poll, despite all the media onslaught against him.

Trump 'absolutely disinclined' to shut down economy if there is a second coronavirus outbreak, Kudlow says

President Trump is unlikely to shut down the U.S. economy again even if there is a resurgence coronavirus infections, according to senior White House economic adviser Larry Kudlow.

"The president is absolutely disinclined to shut down the economy, as is the vice president," Kudlow said Monday during an interview on "America's Newsroom." "You know, I think shutting down the economy could be worse for our health than not shutting it down."

Poll: 79 Percent of Truckers Say They Won’t Deliver to Cities with Defunded Police Departments

A majority of truckers are vowing to halt deliveries to cities that defund or disband their police departments, according to a recent poll.

Seventy-nine percent of truck drivers said they felt their safety would be at risk if they had to deliver to a city with a disbanded police department, according to CDL News, a website for the commercial trucking industry.

Publix forbids employees from wearing Black Lives Matter masks at work

Publix has disavowed racism and expressed its commitment to diversity among its more than 220,000 employees. “Like you, I’m saddened and unsettled by any racial injustice or events that divide our country,” wrote CEO Todd Jones in a letter to staff.

But the company said employees are only allowed to wear approved face coverings — and that didn’t leave room for Black Lives Matter masks.

“Our uniform policy does not permit non-Publix messaging on clothing or accessories,” said Publix spokesperson Maria Brous.

V-shaped recovery coming from sharpest, shortest recession on record: Morgan Stanley

The global economy will return to pre-coronavirus output levels by the end of the year, according to economists at Morgan Stanley.

Significant policy support has ensured that while the current recession is sharper than the one experienced during the 2008 global financial crisis the recovery will be faster, they said.

“We have greater confidence in our call for a V-shaped recovery, given recent upside surprises in growth data and policy action,” wrote Chetan Ahya, chief economist at Morgan Stanley. “The global economy bottomed in April and the recovery will gather further momentum, making this a short recession.”

U.S. May retail sales surge 17.7% in the biggest monthly jump ever

Retail sales shattered already-lofty expectations for May as consumers freed from the coronavirus-induced lockdowns began shopping again.

The 17.7% headline gain including food sales easily topped the record 6.7% from October 2001 — a month after the 9/11 terrorist attacks — and beat the 8% estimate from economists surveyed by Dow Jones. Retail sales alone powered 16.8% higher from a month earlier, more than double the estimate of 8% from Dow Jones and reversing from a revised 14.7% plunge from the previous month. Clothing and accessories stores reported the biggest percentage gain at 188% while sporting goods, hobby, musical instruments and book stores rose 88.2%.

The government numbers, released an hour before the start of stock trading, added to an upbeat mood on Wall Street, with Dow rising more than 900 points in the premarket. By late morning, stocks were up more than 500 points.

With Reopening, US Economy Begins to Show Signs of Life

WASHINGTON—The economic recession caused by the COVID-19 pandemic lockdowns is finally starting to show signs of bottoming out. Many forecasters expect a strong bounce in economic activity over the second half of the year, while urging caution due to high uncertainty.

Economic data in March and April revealed the broad damage done by the crisis on the U.S. economy. Many forecasters expect the U.S. gross domestic product to contract by almost 40 percent in the second quarter, a rate not seen in the post-war era.

Most of the May and early June data are now showing growth from historic lows. The May employment report was a welcome surprise, as the economy added 2.5 million jobs versus the estimated 7.5 million job losses.

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