Despite mainstream media’s constant drumbeat of “Trump will kill us all” the markets and the overall economy of the U.S. continue to prosper.
February’s jobs report beat all expectations as 273,000 workers were added to payrolls with the Bureau of Labor Statistics reporting the unemployment rate fell from 3.6% in January to 3.5% in February.
This low level of unemployment has not been maintained since Richard Nixon’s first term as president. It’s likely the lowest unemployment level you have ever seen thus far in your lifetime.
Jay Heflin of the Washington Examiner reminds his readers that the COVID-19 virus caused “a seismic shift reflected recently in financial markets in anticipation of potentially damaging economic impacts still to come since the February jobs data was collected.”
However, unlike China, Iran, and Italy, businesses in the U.S. are quickly rearranging their plans to counter the economic impact of COVID-19. Washington State and California have declared states of emergency with Amazon, Facebook, and other businesses in the Seattle area telling employees to work from home.
The most dramatic move to circumvent credit problems in the face of the crisis was the Federal Reserve’s emergency reduction in its interest rate target of half a percentage point.
Chairman Jerome Powell said the Reserve’s decision was made to, “Avoid a tightening of financial conditions, which can weigh on activity, and it will help boost household and business confidence.”
Watch the video as Greta Wall, host of Wall to Wall on One America News breaks down the historic numbers of the February jobs report.