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There could be "zero" growth in the U.S. economy if the shutdown lasts through the end of the first quarter, the White House’s top economist, Kevin Hassett, told CNN's Poppy Harlow on Wednesday.
By the numbers: That's the worst economic forecast yet from Trump's administration about the shutdown's economic effects. By the end of this week, the shutdown is expected to cost more than a $5.7 billion border wall, per S&P Global estimates.
Photo illustration: Aïda Amer/Axios. Photo: Jim Watson/AFP via Getty Images
President Trump said twice Monday that the U.S. Treasury would need to get a portion of the sale price of TikTok, as a condition of regulatory approval.
Why it matters: This is akin to extortion — the sort of thing you'd expect to hear on a wiretap, not from the White House in front of reporters.
James Hackett, left, is retiring as Ford CEO. Jim Farley, right, takes over Oct. 1. Photo: Ford
Ford announced Tuesday that James Farley will take over as its next CEO, replacing James Hackett, 65, who is retiring after three years in the job.
Why it matters: It leaves Farley to complete the company's ongoing turnaround effort. The transition will be that much harder as the industry tries to navigate the coronavirus-induced economic slowdown which shuttered Ford plants for two months on the eve of some of its most important vehicle launches.
In this episode of “Axios on HBO”, President Trump discusses his handling of the coronavirus pandemic, the upcoming election and much more with National Political Correspondent Jonathan Swan.
The interview was filmed on Tuesday, July 28 and aired Monday, Aug. 3 on HBO.