President Donald Trump has just killed a multi-trillion-dollar coronavirus relief package that would have sent money to Americans in desperate need as the coronavirus pandemic continues to decimate local economies, bankrupt businesses and families, and make it increasingly difficult for many to put food on the table and keep a roof over their family’s heads.
But just hours before Trump issued his rant on Twitter, targeting Speaker Nancy Pelosi and the Democrats, the chairman of the Federal Reserve begged the federal government to put together a package to help the American people – and specifically for women and minorities.
Trump not only ignored that dire warning, but made sure it will not happen until at least Election Day – meaning relief funds likely will not reach the neediest of Americans until next year.
“The burdens of the downturn have not been evenly shared,” Powell said, speaking of the economy in the middle of the pandemic. “The initial job losses fell most heavily on lower-wage workers in service industries facing the public—job categories in which minorities and women are overrepresented.”
MSNBC’s Stephanie Ruhle highlighted Powell’s remarks and makes clear this is a warning – and a crisis.
She adds that Powell’s remarks are “very out of step for the Fed: an independent government agency that traditionally focuses on the financial system, not the economy.”
“Combined with the disproportionate effects of COVID on communities of color,” Powell continued, “and the overwhelming burden of childcare during quarantine and distance learning, which has fallen mostly on women, the pandemic is further widening divides in wealth and economic mobility.”
Here’s how President Trump, in just the beginning stages of his own personal battle with COVID-19 and on heavy drugs, effectively responded to Chairman Powell’s warning – making sure his Supreme Court nominee is installed by Election Day to help him when he challenges the election results.
The “best” is not coming if families are starving, out of work, and homeless.