(ZeroHedge) President Trump told Fox News, in an interview on Wednesday morning, there will be “another big jobs number on Friday,” and reiterated his view the US economy is marching towards a V-shaped recovery.
A little more than 30 minutes after the president’s interview on Fox, ADP Private Payrolls report showed a huge employment miss but revised June massively higher.
President Trump said he might suspend the payroll tax to supercharge the economy ahead of the election, as Republicans faced strong opposition in Congress in discussions on the next stimulus bill.
“Well, I may do it myself,” President Trump said. “I have the right to suspend it, and I may do it myself – I have the absolute right to suspend the payroll.”
He reiterated the country is in good financial health (despite Fitch revising its US’ outlook to negative last week) and ready to “rock and roll.” He said the Democrats are holding things back and don’t want to open schools.
Over the last 18 weeks, more than 52 million Americans have filed new claims for unemployment benefits, and a very large percentage of them are dealing with a permanent job loss. Deep economic scarring will prolong the downturn that could take years to recover back to 2019 levels.
Democrats and Republicans are locked in a fierce battle on Capitol Hill about the next round of stimulus. The fiscal cliff has already hit with tens of millions of folks not receiving their $600 per week government checks while rent moratoriums have expired.