Maria Bartimoro predicts ‘sharp economic snap-back’ after businesses reopen
Why Maria Bartiromo predicts ‘big economic boom’ after pandemic
Maria Bartiromo explains why she projects a ‘big rebound’ for the economy in Q4
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While the number of Americans filing claims for unemployment benefits broke a record high for the second week in a row during the coronavirus crisis, Fox Business Network host Maria Bartiromo said on Thursday that the economy will have a “big boom” in the fourth quarter of this year.
“I think you have to write off the next couple of months,” Bartiromo told “America’s Newsroom.”
Bartiromo explained, “It’s hard to write something off when you’ve lost your job. It’s hard to say, ‘Oh, things will get better at the end of the year’ when you were just furloughed. So, you know, it’s a tough time right now and there’s no doubt about it.”
Bartiromo went on to say, “I don’t want to ignore because these are real people —10 million people who have filed for unemployment benefits in the last two weeks.”
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Claims between the period of March 21 and March 28 blew past the previous week’s record of 3.3 million, according to the weekly jobless claims report from the Labor Department published on Thursday morning. The previous week’s total was revised higher by 24,000.
As local restaurants, movie theaters, and more continue to shutter under the threat of the deadly virus, last week President Trump signed a more than $2 trillion emergency stimulus bill that would send relief checks into the hands of individuals, families, and businesses large and small.
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Bartiromo said that there is a reason to believe that this is all temporary due to the current public health crisis, even though the economic impact over the next few months will be «horrific.»
“We got to get ahead of this virus first,” Bartiromo said.
Fox News’ Julia Musto contributed to this report.
