R&I. -TxPAT ****
The Trump administration publicly downplayed the coronavirus in the early days of the pandemic while giving major Republican donors private warnings. The information helped elite traders “gain financial advantage during a chaotic three days when global markets were teetering,” according to The New York Times.
President Donald Trump repeatedly downplayed the threat posed by the virus in February. He claimed on Feb. 24 that it was “very much under control” in the U.S., and the stock market was “starting to look very good to me.”
That same day, Trump’s economic team privately gave a less optimistic briefing to board members of the Hoover Institution, a conservative think tank whose members often donate to Republican candidates.
Top economic adviser Larry Kudlow also sought to publicly insist that the virus was “contained,” and the economy was “holding up nicely” on Feb. 25.
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Article URL : https://news.yahoo.com/trump-administration-privately-warned-wealthy-164359648.html