President Donald Trump arrives on stage at a Feb. 20 campaign rally in Colorado Springs, Colo. WASHINGTON (AP) — The White House has taken the unusual step of deciding not to release an updated economic forecast as planned this year, a fresh sign of the administration’s anxiety about how the coronavirus has ravaged the nation just months before the election.
The decision, which was confirmed Thursday by a senior administration official who was not authorized to publicly comment on the plan, came amid intensifying signals of the pandemic’s grim economic toll.
The U.S. economy shrank at a faster-than-expected annual rate of 5% during the first quarter , the Commerce Department reported Thursday. At least 2.1 million Americans lost their jobs last week , meaning an astonishing 41 million Americans have filed for unemployment benefits since shutdowns intended to prevent the spread of the coronavirus began in mid-March.
Trump argues that the economy will rebound later this year or in 2021 and that voters should give him another term in office to oversee the expansion. But the delay of the updated midyear economic forecast, typically released in July or August, was an indication that the administration doesn’t want to bring attention to the […]
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