Tags: Coronavirus | Financial Markets | peter navarro | unemployment | virus | economy

Peter Navarro: High Unemployment Numbers 'Totally Expected'

an empty shopping center in farmington hills, michigan
An empty shopping center in Farmington Hills, Michigan. (JEFF KOWALSKY/AFP via Getty Images)

By    |   Thursday, 26 March 2020 01:18 PM

The news that a record 3.3 million Americans applied for unemployment last week was "totally expected" at the White House because President Donald Trump's strategy was to use social distancing to fight the spread of coronavirus, trade advisor Peter Navarro said Thursday.

"We put public health above economics in the very short run," Navarro told Fox News' "America's Newsroom." "This is no surprise. This is expected and we should accept the news because we are doing what we need to do to combat the virus."

Meanwhile, the $2 trillion in stimulus money expected to be passed on Friday will target relief, particularly for low-income workers, which is a "big fiscal stimulus itself," said Navarro.

"We have liquidity to it, which is unprecedented in history. So President Trump and his team are doing everything we possibly can to deal both with the public health emergency and the economic crisis," Navarro said. Trump, he further claimed, "has transformed the Republican Party into the party of the working class ... we are attuned to their plight and we are going to try to get them that cash cushion as soon as possible. We'll try to get them the loan window open for small businesses."

However, Navarro refused to comment about how soon people can expect their relief check, telling show host Sandra Smith that his job is to make sure that the supply chain for the nation's healthcare workers is moving.

"That's what I'm consumed with 24/7," said Navarro. "Working with FEMA, working with HHS. We're fully engaging that process, and we're working double time. We have planes in the air, we have FedEx planes and FEMA planes, military planes, we have the full force of the American government."

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The news that a record 3.3 million Americans applied for unemployment last week was "totally expected" at the White House, trade advisor Peter Navarro said Thursday.
peter navarro, unemployment, virus, economy
286
2020-18-26
Thursday, 26 March 2020 01:18 PM
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