Rick Newman

Columnist, Yahoo Finance; book author

Jul. 31, 2020

This week in Trumponomics: The V-shaped recovery is gone

The coronavirus recession began with the sharpest economic contraction on record—a 32.9% drop in second quarter GDP, on an annualized basis. The second-worst drop in GDP was a mere 10% decline, back in 1958. That’s about as steep as a V-shaped…

Jul. 30, 2020

What Congress would do in 2021 if Democrats sweep in November

Joe Biden leads President Trump in the polls, and if Biden wins, there’s maybe a 50% chance Democrats will retake the Senate and control both houses of Congress. If that happens, what would the Democrats’ top priorities be in 2021? Democratic Sen.…

Jul. 30, 2020

Another stimulus bill won’t jump-start the economy

Congress is poised to pass another stimulus bill that could inject $1.5 trillion or more into the economy. It won’t be enough to trigger a recovery. “Almost nothing the federal government can do from an economic standpoint is going to make it feel…

Jul. 22, 2020

A double-dip recession is forming

President Trump is banking on a quick recovery from the coronavirus pandemic and 15 million jobs lost as businesses shut down nationwide. For a while, it looked like he might get one. But after an encouraging rebound for a couple of months, there are…

Jul. 22, 2020

How Biden threatens Trump’s fortune

President Trump doesn’t like hearing about Joe Biden’s lead in the polls, and he probably doesn’t like hearing about Biden’s tax proposals, either—because they could cost him a lot of money. Biden recently announced an elder- and childcare plan that…

Jul. 20, 2020

How to waste $1 trillion

So far, Congress has authorized $3.6 trillion in stimulus money to help offset the punishing cost of the lockdowns and business closures caused by the coronavirus pandemic. The various programs funneling all that money to businesses and consumers are…

Jul. 17, 2020

This week in Trumponomics: Walmart is running the country now

When elected officials can’t get the job done, businesses reluctantly step in. That’s happening now, as President Trump continues to downplay the alarming surge in coronavirus cases that is prolonging the recession and spreading economic pain much…

Jul. 16, 2020

Coronavirus could cost Trump 100 electoral votes

Before the coronavirus pandemic, President Trump enjoyed strong reelection odds, despite a tenure marred by controversy. Unemployment was at decade lows, stocks were at record highs and consumers felt good. The pandemic and consequent recession could…

Jul. 15, 2020

Why Joe Biden is wooing unions

In his plan for rebuilding infrastructure and addressing climate change, Joe Biden mentions unions 32 times, repeatedly calling for jobs that pay well and also offer the chance to join a union. That partly reflects Biden’s drift to the left, as he…

Jul. 10, 2020

This week in Trumponomics: The COVID backslide begins

It seemed too good to last, and now the evidence is coming in: the economic recovery is stalling as coronavirus cases surge, mostly in the south. A huge surge in rehiring in June offered a brief glimpse of the rapid recovery President Trump and…

Jul. 9, 2020

The real risk to Trump from the Supreme Court ruling on his tax records

There’s now at least one prominent crack in President Trump’s efforts to shield his tax returns and other financial records from investigators. The Supreme Court ruled on July 9 that Trump’s accounting firm must turn over financial records to the…

Jul. 9, 2020

Biden’s underwhelming economic plan

One problem with Hillary Clinton’s 2016 presidential campaign was a bland economic plan that made a weak impression on voters. She backed dozens of sensible ideas, but never articulated a compelling vision for supercharging growth and raising living…

Jul. 8, 2020

What Biden would do about Trump’s China tariffs

A standout feature of Donald Trump’s presidency has been his tough approach to China on trade. Trump has demanded that China even out a lopsided U.S. trade deficit with China and buy more American products. As leverage, Trump has imposed tariffs on…

Jul. 7, 2020

The small businesses getting bailout loans aren’t what you think

You might think of a small business as your local florist, barbershop, delicatessen or clothing boutique. But the government’s massive list of “small businesses” that received stimulus loans through the Paycheck Protection Program includes many large…

Jul. 6, 2020

A Biden win might boost markets, not quash them

Joe Biden wants to raise taxes, eliminate corporate tax breaks and impose new regulations. With Biden surging ahead of President Trump in 2020 election polls, investors are beginning to worry that a Biden presidency could end the market-friendly…

Jul. 2, 2020

This week in Trumponomics: A premature victory lap

The latest batch of monthly job numbers is a mirage showing what a robust economic recovery might look like in a nation winning the war against the coronavirus. Alas, that is not the United States. Employers added 4.8 million jobs in June, on top of…

Jul. 1, 2020

Edgy voters might reject the 2020 election results

We’ve had close elections before, but political experts are bracing for events that might be unprecedented come November. Surprisingly large portions of both Republicans and Democrats seem poised to challenge the results of the 2020 presidential…

Jun. 30, 2020

Trump’s worst nightmare may be happening

President Trump still has a chance at reelection, but it’s contingent on a quick economic recovery and the containment of the coronavirus. Both may be slipping away. Florida, Texas and California have reversed reopening measures in recent days, as…

Jun. 29, 2020

Hardly any at-home workers have returned to their normal workplace

Americans have made sweeping changes to their work, spending and investing habits, according to the first installment of the new Yahoo Finance-Harris poll. Yahoo Finance has teamed with Harris to produce monthly insights on consumer and workplace…

Jun. 26, 2020

This week in Trumponomics: Assessing President Biden

Before the coronavirus arrived, Trump’s reelection bid looked reasonably solid. Unemployment was extremely low, incomes were rising and the stock market hit one record high after another. Many voters who didn’t like Trump personally could still say…