Noted Fox Business financial analyst Maria Bartiromo agrees with President Trump that times will be tough for a bit, but then we can expect a strong rebound later in the year. She spoke to Sean Hannity on his Wednesday show.
“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,” said Bartiromo.
“But 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. We are throwing a lot at this. We should be because right now you are seeing a sharp contraction in the economy.”
“The second quarter began today. We are expecting the second quarter to show a contraction of up to 20 percent. 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?”
“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. 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.”
This very telegenic woman has predicted economic trends and cycles correctly for over twenty years. Bartiromo sees the same thing as the Secretary of the Treasury and the president, that after a rough patch lasting until the late summer Americans will see an economic resurgence.
That is lucky for the president, given the fall election, and as usual, unlucky for the Democrats as they try to drive him from office by any means at their disposal.