It’s Tuesday aka Rose Garden Tuesday.
For Rose Garden Tuesday President I’m Gonna Make Things Worse Not Better has tweeted one time so far.
Wow! May retail sales show biggest one-month increase of ALL TIME, up 17.7%. Far bigger than projected. Looks like a BIG DAY FOR THE STOCK MARKET, AND JOBS!
— Donald J. Trump (@realDonaldTrump) June 16, 2020
On Tuesday the United States Census Bureau reported that the “Advance estimates of U.S. retail and food services sales for May 2020, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $485.5 billion, an increase of 17.7 percent (± 0.5 percent) from the previous month, but 6.1 percent (± 0.7 percent) below May 2019. Total sales for the March 2020 through May 2020 period were down 10.5 percent (± 0.5 percent) from the same period a year ago. The March 2020 to April 2020 percent change was revised from down 16.4 percent (± 0.5 percent) to down 14.7 percent (± 0.2 percent).”
The Census Bureau posted a FAQ regarding the impact of the coronavirus pandemic on their collected retail sales data:
Econ/Business reporter Ben Casselman for the New York Times explains that while retail rose for May, retail sales are still down nearly 8 percent since February before the coronavirus pandemic hit.
Retail sales rose 17.7% in May as the economy began to reopen. But they're still down nearly 8% from February, before the pandemic hit.https://t.co/VuAWm98r4b pic.twitter.com/tapthAbos5
— Ben Casselman (@bencasselman) June 16, 2020
Here's a number you don't see often: Clothing-store sales up 188% in May (but still down nearly 2/3 over past year). pic.twitter.com/MqyVHXJljj
— Ben Casselman (@bencasselman) June 16, 2020
ING’s Chief International Economist James Knightley issued a statement regarding the retail bounce for May writing; It is clear that huge fiscal and monetary support, including the extra $600 per week in unemployment benefit, has given households the income and the confidence to spend. However, this $600 extra payment ends in July and we must remember that employment is still 20 million down on where it was at the beginning of the year.
Happening right now Federal Reserve Chairman Jerome Powell is offering his semiannual monetary outlook to the Senate Banking Committee.
Highlight from Powell’s current testimony.
Powell is expected testify before the House Financial Services Committee, on Wednesday afternoon.
President Shit-Starter is scheduled to hold a Rose Garden event at 12 p.m. D.C. time on Tuesday. I’m hesitant to label it a “press conference,” as it’s unclear if he will dare to take questions from the media prior to signing an Executive Order on “Safe Policing for Safe Communities.
Here's Trump's public schedule for tomorrow. (Public schedules don't include all of a president's activities.) pic.twitter.com/hes5XlvePy
— Daniel Dale (@ddale8) June 16, 2020
*Flashback*
How has it been five years https://t.co/iQAMGXj4Jd
— Daniel Dale (@ddale8) June 16, 2020
Yes, it was five years ago today the Orange Turd rode down the escalator.
Live Feeds for Rose Garden event.
TIME.
The Hill.
Fox Business.
As always President Entitled will most likely be late to his own scheduled event.
This post might be updated…
