but need for concern as one of you raised the legitimate question, the new cold war. president biden spoke in his prepared remarks about investing to prevent the next pandemic but he was speaking about the g20 as a whole. we have no indication that president biden brought up covid or covid origins with xi during their private meeting. sandra. sandra: peter, thank you. john. john: amazon getting ready to lay off about 10,000 employees, according to a report from the new york times. that would be the largest payroll cut in amazon s history, accounting for about 3% of its corporate workforce. amazon is not the only tech company cutting back. me meta and twitter have also,
drum. martha: what about all of the reporting that sort of points to the presidents nervous about this that s why he is talking about a payroll cut that s why he is suggesting some of these changes? you know, because obviously, how people feel about the economy does make a difference when people go in to vote on election day. we have seen it time and time again. that s really great point. first of all, you know, if the economy slowed down, certainly it has, we are going at three and three and a half i we are looking at 2% growth and frankly that s martha: that s exactly what was put into last year, right? executive. and, you know, that s the trade war appeared i support trump with what he doing here we have to win this trade war with china but it has not dropped growth in the united states, it s her tura lot more but you are right. you know, optimism and a sense of confidence in the economy can have an impact on how the economy does. if the workers feel good about their jobs,
hammer the federal chair chairman who he hand picked over the policy. jay powell and the federal reserve have totally missed the call. i was right and about everybody admits that. i was right. he did quantitative tightening. he shouldn t have done that. he raised the interest rates too fast. we have a normalized rate. you can call it that. now we have to go the other direction. as the associated president reports, fear trump has undercut powell s credibility. they worry his discussion of indexing or a payroll cut. revealing employers add a half a million jobs in 2019.
thursday or friday, and he wouldn t even sort of dignify the question for if they had a plan because they didn t see signs of a recession. how long have they been baking the payroll cut? i don t know about baking, but they were looking at it as an option. there was a white paper drafted. that was one of the options that was discussed. they re looking back at previous recessions like during the h.w. bush years. this is a menu of options we could choose. they so don t want to suggest that anything is not as good as trump says it is. that you re of course seeing his advisers say this is great. and you saw larry kudlow say over the weekend what s wrong with having some optimism? they ve gotten used to the president trying to talk his way out of certain things. we ll see if he can do that here. we have a new cnn poll out. it shows the president s approval is down to 40% from
america. i have an agenda and i want to talk about it. you want to see a payroll cut? let s see how the economy goes. let s see what happens in the next few months. i do think that one of the things you have to do as a recession comes on is you have to get more money into the economy. the problem is, we have trillion dollar deficits now that the republicans pass we should have never cut taxes like we did when times were going so well. now we don t have the levers to pull when times are tough. maria: it moved the needle. can you say times are tough? a recession the two quarters of negative growth. we know that. we had this year 3.1% growth in the first quarter and 2.1% in the second quarter. so we re not seeing any negative growth. here s my point. when we do have a recession, we ll have no tools in the tool box to take care of anything. you can t deficit spend because we have trillion dollar deficits now as far as the eye can see