An economy that has already rebounded with unemployment rates falling substantially over the past three months and the stock market booming will only improve more as the coronavirus crisis starts to get under control, economist Stephen Moore said on Sunday.
Speaking to host John Catsimatidis on "The Cats Roundtable" radio show on WABC 770 AM in New York, Moore predicted that the economy will really start to boom as the coronavirus cases see a much more dramatic decline over the next few weeks. He insisted that "if that happens, you're going to see a lot of exuberance, not just in the financial markets, but in the real economy as we can start to get schools reopened. We can get business reopened. We can get stores reopened, we can get people back out and on the streets."
Moore, who advised President Donald Trump during his 2016 campaign, said the media is not reporting the positive trend regarding the coronavirus cases "because they hate to report any good news with respect to what's happening."
Moore insisted, however, that "the news almost across the board on corona is very positive. We've seen flattening and now declining caseloads … We've seen a big reduction in hospitalizations … We're starting to see the death rate come down."
Moore also stressed that better leadership is needed in six major American cities, calling it "a disgrace that these mayors, and oftentimes governors, have allowed the hoodlums and the criminals to run their cities."
He cited New York City, Portland, Seattle, Los Angeles, San Francisco, and his hometown of Chicago, where he said Michigan Avenue, with all its high-end stores, "has been really destroyed. And now a lot of those stores say they are leaving Chicago."
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