Economy
WH press secretary replies to question about stock market concerns: ‘We have the first female treasury secretary’
When asked on Wednesday about fears regarding the stock market in light of recent developments with GameStop’s shares, White House press secretary Jen Psaki responded by saying: “We have the first female treasury secretary.”
In the course of more than a week—in an incredibly complex situation—the stock price of the declining video game vendor GameStop soared by as much as 770%. In short, after some influential users in a Reddit community dedicated to the stock market called r/WallStreetBets encouraged many other users into purchasing GameStop stock through equity and calls, which dramatically drove up its stock price, as explained by TIME.
“Is the White House concerned about the stock market activity we’re seeing around GameStop and now with some other stocks as well?” a reporter asked Psaki. “Have there been any conversations with the [Securities and Exchange Commission] about how to proceed?”
“Well, I’m also happy to repeat that we have the first female treasury secretary and a team that’s surrounding her and often questions about markets,” Psaki responded. “We’ll send [you] to them. But our team is, of course, our economic team, including Secretary [Janet] Yellen and others, are monitoring the situation.”
On Monday, the U.S. Senate confirmed Janet Yellen to the role of treasury secretary.
Psaki went on to say that the GameStop situation is “a good reminder, though, that the stock market isn’t the only measure of the health of our economy. It doesn’t reflect how working- and middle-class families are doing.”
In response to the situation, TD Ameritrade on Wednesday restricted trading for the company and has sent fears down the spines of some on Wall Street.
“In the interest of mitigating risk for our company and clients, we have put in place several restrictions on some transactions in $GME, $AMC and other securities,” a spokeswoman for TD Ameritrade told the website Market Watch. “We made these decisions out of an abundance of caution amid unprecedented market conditions and other factors.”
You can follow Douglas Braff on Twitter @Douglas_P_Braff.
Economy
FEMA Supervisor Claims Avoidance of Trump Supporters Was Not an Isolated Incident
Marn’i Washington, the former Federal Emergency Management Administration (FEMA) supervisor fired for instructing workers to avoid homes displaying Trump campaign signs, stated on Tuesday that the incident was part of a larger pattern of political bias within the agency. Washington, who previously served as a Disaster Survivor Assistance crew leader in Highland County, Florida, called the occurrence a “colossal event” that extended beyond Florida, affecting other states like North and South Carolina after hurricanes devastated the region.
According to the Daily Caller News Foundation, Washington’s comments came in an interview with journalist Roland Martin, where she described the practice as part of a broader trend within FEMA, alleging that it had occurred in multiple states, particularly in areas that had supported President Donald Trump. “If you look at the record, there is what we call a community trend,” Washington said, suggesting that FEMA’s actions weren’t isolated. “FEMA always preaches avoidance first and then deescalation. This is not isolated. This is a colossal event of avoidance not just in the state of Florida, but you will find avoidance in the Carolinas.”
Washington’s remarks stem from an incident in which her team, while canvassing for hurricane relief in Lake Placid, Florida, was instructed to avoid homes with Trump signage. According to reports, the move resulted in at least 20 homes with Trump-related signs or flags being skipped over for disaster relief assistance between late October and November. These actions were allegedly in line with a set of “best practices” that included safety tips alongside the politically charged directive to avoid Trump supporters.
Washington clarified that the guidance came from higher-ups in FEMA, including Chad Hershey, her supervisor, who reportedly instructed staff to bypass homes they deemed unsafe due to hostile encounters with residents. “We will canvass at [homes] that do not have the community trend with the Trump campaign signage,” Washington explained. “If any of those residents come outside and say ‘hey, I want to register,’ we’ll welcome them into our arms… But we were not going to subject our people to continue with verbal abuse or hostile encounters.”
The former supervisor emphasized that her team experienced verbal abuse from residents who displayed Trump campaign signs on their properties, leading to her instruction to avoid those homes entirely. Washington also mentioned that her team was instructed to log reasons for skipping homes, with notes like “Trump sign no entry per leadership,” “Trump sign, no stop Trump flag,” and “Trump sign, no contact per leadership” appearing in the records. These notes were reportedly made in Highlands County, a region where nearly 70% of residents voted for Trump.
The controversial directive came in the wake of Hurricanes Helene and Milton, which struck the area in October, leaving millions without power and causing approximately $50 billion in economic damage, as reported by President Joe Biden. FEMA has not denied the incident but has indicated it is taking steps to address the matter. Hershey confirmed to the Daily Wire that the agency was “aware” of the incident and is taking “immediate action.”
Washington’s firing has drawn attention to possible partisan practices within federal agencies. While she defended her actions as being in response to a difficult environment, she also criticized FEMA’s leadership for allegedly not addressing the broader issue of political bias within the agency. Washington’s claims have sparked broader questions about the extent of political influence in government disaster relief efforts and whether such biases might impact the fairness of assistance distribution in future emergencies.
-
Immigration6 days ago
‘Times’ Up’ For Tren de Aragua Members, Major Arrest in NYC
-
Media5 days ago
THE POOR DEARS: White House Reporters Claim They’re Already ‘Exhausted’ by Second Trump Administration
-
Immigration5 days ago
CNN Host’s Reaction to Tom Homan Comments About Denver Mayor Speaks Volumes (VIDEO)
-
Politics5 days ago
Biden Omits God From Thanksgiving Message