Fox Business Network’s Maria Bartiromo told “Hannity” Wednesday Americans need more clarity about how long the coronavirus pandemic will last before we can know when the economy will bounce back before saying she expected a big rebound in the fourth quarter of this year.
“We have to see really more about the duration of this virus and then get the impact before we could actually have clarity on when the economy is going to come back,” Bartiromo told host Sean Hannity.
THE CORONAVIRUS OUTBREAK STATE-BY-STATE
The “Sunday Morning Futures” host then brought up talk of a “phase 4” bill to stimulate the economy.
House Speaker Nancy Pelosi, D-Calif., said Tuesday that a fourth round of coronavirus legislation will focus on the nation’s “recovery” and singled out building up critical infrastructure.
“When you actually look at all of the stimulus, whether it’s fiscal stimulus from the government or when you’re talking with the Federal Reserve,” Bartiromo added. “We are throwing a lot at this. We should be because right now you are seeing a sharp contraction in the economy.”
The “Mornings with Maria” host added that the key question regarding the economy is whether the third quarter of this year will see a “contraction,” which would officially signal a recession.
“The second quarter began today. We are expecting the second quarter to show a contraction of up to 20 percent,” Bartiromo said. “The question is, are we going to see a contraction in the third quarter, which, of course, would be officially a recession, or will we start seeing some stabilization in the third quarter?”
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“One issue I would point out is that we are doing these rolling lockdowns. So some parts of the country [are] locked down, other parts not so much right now,” Bartiromo said. “Because of that, there are risks later in the year that we will see [a] slowdown. But I think you’re going to see a big rebound, Sean, in the fourth quarter, big time.”
