Gov. Wes Moore on Trump's Economic Chaos
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How is Trump's economic policy affecting inflation?
I do think with the arrival of the tariff inflation, further progress may be delayed. The SEP doesn't really show further downward progress on inflation this year, and that's really due to the tariffs coming in.
That was the announcement by the chairman of the Federal Reserve, Jerome Powell, saying that because of the Trump tariff stuff, and all of the Trump economic kind of disaster. They wanted to cut interest rates, but they just don't see inflation coming down. Governor, I want to chat with you about what you're doing in your state because you actually got a good report in Maryland. Governor Westmore, you're governor of Maryland. Governor, I want to play one more clip from you for what went down today at this press conference with the chairman of the Federal Reserve, Powell. They are lowering their projections now on what the GDP growth was supposed to be. It was supposed to soar. And here's what's happening right now. Let's play.
What did Jerome Powell announce about the GDP projections?
In our summary of economic projections, the median participant projects GDP to rise 1.7 percent this year, somewhat lower than projected in December. and to rise a bit below 2% over the next two years.
It's somewhat lower, but it's significantly lower than if Trump just put this on overdrive, let the economy just kind of rock and roll and not interfere with it every day. I want to talk about what you're doing in your state, but first let's just get your reaction to Trump's policies. It almost feels like you have to fight against this tide right now.
Yeah, the only certainty we've gotten from this new administration is uncertainty. Right. And I think people are just looking for basic predictability. They're just like, tell me what the situation is and we can find ways to adapt and to adjust on it. But when it changes every day and when you are using tools like tariffs, which are tools and using it as an ideology.
How is Governor Wes Moore guiding Maryland through economic challenges?
the way this administration does and changing numbers every day. And I mean, that leads to a level of uncertainty that I think drives not just markets crazy, but drives all business influence crazy. I mean, the thing that we are trying to do in our state is we have really been focusing on focusing on economic growth. on giving certainty to industries because that can lead to greater levels of employment, it leads to greater levels of economic growth, and also it allows us to diversify our economy off of Washington. And if you're looking at what's happening in the state of Maryland, it's actually working, even contrary to the headwinds that we're getting from Washington. where we just announced, if you look at the most recent job numbers, we have now added more jobs in Maryland over the past two years since I've been the governor than the previous administration and the previous governor got during eight years, during two terms. Right.
So our focus on things like investing in child care, our focusing on things like investing in apprenticeship programs and trade programs, our focus on the service year option, which is getting more young people into the workforce. Like these things are actually working to drive growth, particularly private sector growth.
What are the impacts of Trump's tariffs on Maryland?
But it is without a shadow of a doubt, the kind of craziness that we have seen from this new administration is definitely making it harder for our nation's chief executives and not easier at all.
You know, and now what's he saying that he goes, April 2nd is going to be Liberation Day. He says Liberation Day. And this is for real what they're saying. They say they're going to give every country is going to get an envelope. But I'm not making this up. And in the envelope, it's going to have. their tariff number on it. And so like a game show, right? For real. And then the countries are going to open it up. He goes, not April 1st because that's April Fool's Day, April 2nd. And then depending on how the countries treat Donald Trump from now until then, they get a number and that's what their tariff is. And then we make a whole kind of show of it. And to your point, it's just like, why? Why? Why?
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Chapters
5 chapters
1
How is Trump's economic policy affecting inflation?
0:00–0:54
2
What did Jerome Powell announce about the GDP projections?
0:54–1:49
3
How is Governor Wes Moore guiding Maryland through economic challenges?
1:49–2:59
4
What are the impacts of Trump's tariffs on Maryland?
2:59–4:37
5
How is Maryland's relationship with Canada affected by U.S. policies?
4:37–11:10