Today’s Top Stories From the Breitbart News Desk

[Maganomics]( Today’s Top Stories From the Breitbart News Desk The Fed’s Beige Book, published today, tells the expected tale of economic woe. Economic activity declined in all 12 of the Fed’s districts and consumer spending continued to decline. The Beige Book is based on business contacts of Fed officials around the country, so it is very much the views of the well-connected business class. In the assessment, the mandated closures of retail establishments played a large role in the decline of consumer spending, implying that spending might rebound when shops are allowed to reopen. The Fed noted that “Many contacts expressed hope that overall activity would pick-up as businesses reopened,” but the report also indicates that in several districts, only a minority of businesses expect to reopen in the next few weeks. “Outlooks were bleak and uncertain, largely centered on the speed and scope of the reopening,” the Dallas Fed noted. The stock market, however, has been anything but bleak and uncertain, rising towards new post-coronavirus highs yesterday and today. Do investors know something the Fed’s contacts do not? Or vice versa? Meanwhile, the emotional stress of the virus lockdowns was on display on CNBC this morning when Andrew Ross Sorkin accused co-anchor Joe Kernen of having “used and abused” his position to defend the president. Of course, it could all be pro wrestling for the camera. – Alex Marlow, Breitbart News Network --------------------------------------------------------------- TOP STORY [image] [Congress Shifts Virus Focus to Small Business Aid]( Deadlocked over the next big coronavirus relief bill, Congress is shifting its attention to a more modest overhaul of small business aid in hopes of helping employers reopen shops and survive. Bipartisan legislation that would give small employers more time to take advantage of federal subsidies for payroll and other costs is expected to pass in the House this week, as lawmakers return to Washington for an abbreviated two-day session. Yet absent from the agenda are formal talks between congressional leaders on the next “phase” of the federal coronavirus response. Democrats have already pushed a $3 trillion-plus scheme, but negotiations with the GOP-controlled Senate and White House have yet to begin. [[Click here for more]( IN OTHER STORIES… [Gretchen Whitmer’s Construction Ban Had Devastating Impact on Michigan Jobs]( Michigan’s Democratic Gov. Gretchen Whitmer’s decision to ban most residential construction during the coronavirus shutdown led to a 44 percent decline in Michigan construction jobs and contributed to her state’s second-highest-in-the-nation unemployment rate. Although unemployment rates rose in every state in April, three states stand out in particular: Nevada led the nation at 28.2 percent, followed by Michigan at 22.7, and Hawaii at 22.3. [[Click here for more]( [Report: Local News Stations Run Segments Scripted and Produced by Amazon]( According to a recent report, local news stations across the United States have run news segments scripted and produced by e-commerce giant Amazon. Unsurprisingly, the segments were overly positive about Jeff Bezos’ company and its employment practices. The segments praised the company’s role in delivering essential groceries and cleaning products during the Wuhan coronavirus pandemic and highlighted the company is “keeping its employees safe and healthy.” [[Click here for more]( [Democrats Fear Economic Resurgence Post-Coronavirus May Boost Trump]( America’s economy has consistently taken a hit ever since the coronavirus pandemic began, and Democrats around the country have made it clear that they do not want to see President Donald Trump revive it. A newly published piece from Politico provided insight and reports by former top Obama administration economist Jason Furman. In his calculations, Furman concluded, “We are about to see the best economic data we’ve seen in the history of this country.” [[Click here for more]( [Watch: CNBC Segment Explodes as Anchors Spar on Air Over Death Toll]( Wednesday on CNBC’s Squawk Box, hosts Joe Kernen and Andrew Ross Sorkin battled over the stock market volatility amid the coronavirus pandemic. [[Click here for more]( --------------------------------------------------------------- FROM THE MAGANOMICS INSTITUTE… [Why COVID-19 Could Be This Generation’s Y2K]( When we look back on lockdowns, they’ll look like an overreaction along the lines of Y2K… [[Click here for more]( [Maganomics]( Maganomics Institute 55 NE 5th Ave, Delray Beach, FL 33484 [www.maganomics.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Maganomics welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-888-415-6046, Mon–Fri, 9am–7pm ET, or email us [here](mailto:memberservices@maganomics.com). © 2020 Signal to Noise, LLC. All rights reserved. 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