With less than a month to go before the presidential election, former Hewlett-Packard CEO and 2016 GOP presidential candidate Carly Fiorina, is among the growing list of Republicans backing the Biden-Harris ticket.
‘[Joe Biden] is the only one who’s prepared to actually reach his hand across the aisle, sit down, listen to people who don’t agree with him, and work together to solve problems,” Fiorina told Cheddar’s Closing Bell. “That’s what our nation needs now.”
Fiorina first announced her support for Joe Biden in June. She told Cheddar it was the end of 2019 when she realized she could not support President Donald Trump’s re-election campaign. “As a businessperson, I judge someone on the results they produce, their leadership, and their behavior,” Fiorina said. “I think he has honestly failed most leadership tests that have come his way.”
When it comes to the 2020 election, Fiorina says it’s more than just various issues at stake; she called it a matter of the nation’s unity. “This country has got to come back together otherwise we cannot move forward.”
Unsurprisingly, Fiorina said she doesn’t agree with everything on the Democratic platform. She also admitted she doesn’t agree with some policies “the Trump Republican Party” has pushed. Specifically, Fiorina pointed to the administration’s handling of immigration and what she described as the growing consolidation of power in the executive branch. As a businessperson, she also pointed to the country’s growing debt and deficit and Trump’s foreign policy record.
When it comes to foreign policy, relations with China are top of Fiorina’s mind. It’s one point she agrees with the president on. “I think it was right for Donald Trump to say we are going to have to challenge China.” But she did have criticisms for the way the Trump administration went about negotiating with the superpower. “If we're going to be successful in challenging China, we need to be consistent, persistent, and strategic,” Fiorina said. “Donald Trump has been extremely inconsistent.”
Fiorina highlighted China’s increased aggression in the South China Sea, its actions against Taiwan, and continued theft of U.S. intellectual property. She said the only way forward is for the government and businesses to find a way to work together. “Which we’re not doing right now,” she added.
As a former tech CEO, Fiorina knows about the power the tech industry has in the marketplace and with consumers — and the response Washington has to that kind of largely-unregulated power. She stated that the pandemic’s acceleration of trends around the tech sector's influence is concerning lawmakers from both sides of the aisle. “Big tech is not going to have an open field going forward, in my view, no matter who wins the White House.”
President Donald Trump said he has decided to lower his combined tariff rates on imports of Chinese goods to 47% after talks with Chinese leader Xi Jinping on curbing fentanyl trafficking.
The Federal Reserve cut its key interest rate Wednesday for a second time this year as it seeks to shore up economic growth and hiring even as inflation stays elevated. The move comes amid a fraught time for the central bank, with hiring sluggish and yet inflation stuck above the Fed’s 2% target. Compounding its challenges, the central bank is navigating without much of the economic data it typically relies on from the government. The Fed has signaled it may reduce its key rate again in December but the data drought raises the uncertainty around its next moves. Fed Chair Jerome Powell told reporters that there were “strongly differing views” at the central bank's policy meeting about to proceed going forward.
U.S. and Chinese officials say a trade deal between the world’s two largest economies is drawing closer. The sides have reached an initial consensus for President Donald Trump and Chinese leader Xi Jinping to aim to finalize during their high-stakes meeting Thursday in South Korea. Any agreement would be a relief to international markets. Trump's treasury secretary says discussions with China yielded preliminary agreements to stop the precursor chemicals for fentanyl from coming into the United States. Scott Bessent also says Beijing would make “substantial” purchases of soybean and other agricultural products while putting off export controls on rare earth elements needed for advanced technologies.
A new poll finds most U.S. adults are worried about health care becoming more expensive.
The White House budget office says mass firings of federal workers have started in an attempt to exert more pressure on Democratic lawmakers as the government shutdown continues.
President Donald Trump says “there seems to be no reason” to meet with Chinese leader Xi Jinping as part of an upcoming trip to South Korea after China restricted exports of rare earths needed for American industry. The Republican president suggested Friday he was looking at a “massive increase” of import taxes on Chinese products in response to Xi’s moves. Trump says one of the policies the U.S. is calculating is "a massive increase of Tariffs on Chinese products coming into the United States." A monthslong calm on Wall Street was shattered, with U.S. stocks falling on the news. The Chinese Embassy in Washington hasn't responded to an Associated Press request for comment.
Most members of the Federal Reserve’s interest-rate setting committee supported further reductions to its key interest rate this year, minutes from last month’s meeting showed.
From Wall Street trading floors to the Federal Reserve to economists sipping coffee in their home offices, the first Friday morning of the month typically brings a quiet hush around 8:30 a.m. eastern, as everyone awaits the Labor Department’s monthly jobs report.
The Supreme Court is allowing Lisa Cook to remain as a Federal Reserve governor for now.
Rep. John Moolenaar has requested an urgent briefing from the White House after Trump supported a deal giving Americans a majority stake in TikTok.
