Stephen Moore on economy: 'It's going to be a bad summer'
By Marty Johnson - 05/03/20 07:00 AM EDT
Economist Stephen Moore predicted Sunday that the summer will not provide any relief for the U.S.'s beleaguered economy.
“It’s going to be a really tough time for retail...stores like Macy’s.. are going to face a tough time...because a lot of them were in trouble already," Moore told radio host John Catsimatidis on Sunday.
"But also people are just going to be a little more wary about going into stores...It’s going to be a bad summer."
Moore, an ally of President Trump who is on the White House coronavirus economic task force, said that many states could experience unemployment rates between 15 and 20 percent, adding that he doesn't think the U.S. will see the light at the end of the tunnel until mid-to-late August.
"In the fall we’ll start to see a nice recovery," Moore noted.
more
https://thehill.com/policy/finance/economy/495830-stephen-moore-on-economy-its-going-to-be-a-bad-summer
