Feb 28, 2018

Trump: Concealed carry bill "will never pass"

Photo: Mandel Ngan / AFP via Getty Images

President Trump said Wednesday that he doesn't think the House’s proposed concealed carry measure, which would allow concealed carry permits to be valid across state lines, will ever pass as part of a background checks bill. His remarks came during a meeting with bipartisan members of congress.

Why it matters: Concealed carry is arguably the biggest issue for gun owners right now. In December, the NRA and gun rights advocates celebrated the House's passage of the bill that combined the concealed carry provision with Fix NICs. Many conservatives, the Freedom Caucus in particular, do not want to separate the two measures — but Trump essentially has just shut that effort down.

Go deeper: The gun debate is a mess and Trump isn't helping

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Wall Street notches worst week for stocks since 2008

Traders work on the floor of the New York Stock Exchange. Photo: Scott Heins/Getty Images

Stocks closed down about 1% on Friday, ending the worst week for Wall Street since the financial crisis.

Why it matters: The stretch of declines came after a spike in coronavirus cases around the world earlier this week. The steep losses prompted questions about the fate of the record-long economic expansion, as well as a rare statement from the Federal Reserve.

Go deeper: The growing coronavirus recession threat

Federal Reserve: Coronavirus poses "evolving risk" to the economy

Federal Reserve chairman Jerome Powell. Photo: Sarah Silbiger/Getty Images

Federal Reserve chairman Jerome Powell took the rare move Friday of issuing a statement meant to reassure investors, one that opened the door to a possible interest rate cut.

Why it matters: The Fed rarely issues statements like this outside of policy meetings and scheduled public appearances. It came as the stock market continues its steep decline this week. Stocks briefly pared some losses after the 2:30 p.m. EST statement came out.