The White House gets defensive

Your guide to how Washington shapes business and the economy

VIEW IN BROWSER | SUBSCRIBE MON, AUG 19, 2019 CNBC POLITICS EDITOR'S NOTE   Hello readers,   President Trump's trade war and its strain on the economy are a growing issue for voters. The latest NBC/Wall Street Journal poll, released Sunday, shows that Americans are becoming more disgruntled with the president's handling of the economy. He still has a favorable rating (49% to 46%) there, but that's much tighter than it was in July 2018 (50% to 34%).   The survey's findings on trade are more alarming to Trump World. Since the president took office in 2017, voters have become more in favor of free trade while Trump pursues more protectionist policies. Americans say they approve of free trade by a 64%-27% margin, compared to 51%-41% near the end of President Obama's tenure.   No wonder the White House is playing defense on the economy, even as the bond market flashes signals that usually precede a recession. Instead, Trump's top economic advisor, Larry Kudlow, pointed to consumer spending and strong employment stats as signs that things are going well. The president himself, who faces a potentially bitter reelection fight next year, was more adamant. "I don't think we're having a recession," Trump said.   Indeed, the U.S. could dodge a recession during the thick of the 2020 campaign, but concerns aren't likely to go away.    Thanks for reading.    Have friends or colleagues who might like this newsletter? They can sign up here. For more on the intersection of business and politics, sign up for the weekly Capital Exchange newsletter here. Mike Calia @Michael_Calia KEY STORIES  White House pushes back against recession fears, defends trade war Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week. Trump says Fed should cut rates by at least 1% 'with perhaps some quantitative easing' In a pair of tweets again aimed at getting easier monetary policy, the president said the Fed has been hampered by a "horrendous lack of vision." Americans overwhelmingly support free trade as concern grows about Trump's economy Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of President Obama's tenure, according to the latest NBC/WSJ poll. Jeffrey Epstein hanged himself in suicide, medical examiner rules Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead. A voter who could be key to Elizabeth Warren's 2020 hopes? Brett Kavanaugh The Supreme Court could strike down the constitutionality of the Consumer Financial Protection Bureau, an agency Elizabeth Warren has likened to her child and which Justice Brett Kavanaugh has criticized. Nearly two dozen Texas towns hit by 'coordinated' ransomware attack The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums. Gun control could be a defining issue for Democrats in 2020 Democrats who ran on tougher gun regulations in 2018 are primed to push the matter even harder during next year's elections in the wake of recent mass shootings.       Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2019 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS