MeidasTouch host Ben Meiselas reports on Federal Reserve Chairman Jerome Powell delivering a bleak economic outlook due to Trump’s mishandling of the economy. Meiselas also interviews Maryland Governor Wes Moore on how he has successfully guided Maryland through challenging times for America. For more content, visit MeidasPlus.com Learn more about your ad choices. Visit megaphone.fm/adchoices
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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.
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.
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.
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