Economist Stephen Moore warns US could be headed toward a Great Depression
Added 04-05-20 10:18:02am EST - “Economist Stephen Moore warned that the US is barrelling headlong toward a Great Depression if the economy isn't revived by next month because of the damage caused by the coronavirus pandemic?” - Nypost.com
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Economist Stephen Moore warned that the US is barrelling headlong toward a Great Depression if the economy isn’t revived by next month because of the damage caused by the coronavirus pandemic.
“At some point soon, we’re going to have to make some real decisions about what kind of a calamity we are causing through the lock-down of our economy. I’m not saying we should be inattentive to the public health concern…But at some point, we have to worry about what we’re doing to our society, and what kind of economy we’re going to have after this is all over,” Moore, who has advised President Trump on the economy, told host John Catsimatidis on his AM-970 radio show “The Cats Roundtable” in an interview that aired Sunday.
Wall Street markets plummeted on Friday after the feds released the March jobs report that showed the US economy lost 701,000 jobs last month, ending a nine-year hiring streak.
Moore said the country’s unemployment rate could get worse as the coronavirus spreads, rising as high as 23 percent.
The president during a White House coronavirus task force briefing Saturday said hard decisions must be made on the economy.
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