A number of indicators are suggesting a recession is on the horizon. That, of course, could have a huge impact on the presidential election — especially if the slowdown arrives during or close to autumn 2020.
Usually, when the economic outlook gets ominous, the White House begins taking steps to ward off a recession. In the Washington Post today, economist and former Biden advisor Jared Bernstein outlines how this would normally work.
Trump appears to be going in a different direction.
The White House is playing down concerns about the economy, while casting about for a scapegoat other than Trump for voters to blame if things go bad. Increasingly, that scapegoat looks to be Federal Reserve Chair Jay Powell.
TPM’s Tierney Sneed covers Trump’s latest attack on Jay Powell here.