Former White House communications director Anthony Scaramucci says he's bullish about financial markets, but he's less keen on the way his old boss is handling the coronavirus pandemic.
"We are now the epicenter of this crisis, frankly, due to governmental mismanagement," Scaramucci told Cheddar.
The White House official-turned vocal critic of the president said Donald Trump ignored information and downplayed the seriousness of the outbreak.
"The president had the information in January," he said. "He had the information from his intelligence agencies, the pandemic people at the NIH and CDC, and he elected to ignore the information."
He added that the U.S. could be in a position closer to South Korea and Singapore, which have managed to flatten the rate of infection if Trump had acted sooner.
As the head of SkyBridge Capital, Scaramucci is nonetheless optimistic that federal efforts to soften the economic impact of the coronavirus outbreak will work as intended.
"People that are calling for a depression really have not studied the macroeconomic effects of the government stimulus and the fed buying program," he said "This is totally different from 1929 or even from the 2008 financial crisis. I'm bullish here for financial assets and financial markets."
He said that in retrospect the downturn of the last few weeks will mark the low-point of the coronavirus-induced financial crisis.
"I actually think we have hit rock bottom," Scaramucci said.
A steep budget deficit caused by plummeting tax revenues and escalating school voucher costs will be in focus Monday as Democratic Gov. Katie Hobbs and the Republican-controlled Arizona Legislature return for a new session at the state Capitol.
The first U.S. lunar lander in more than 50 years is on its way to the moon. The private lander from Astrobotic Technology blasted off Monday from Cape Canaveral, Florida, catching a ride on United Launch Alliance's brand new rocket Vulcan.
Global prices for food commodities like grain and vegetable oil fell last year from record highs in 2022, when Russia’s war in Ukraine, drought and other factors helped worsen hunger worldwide, the U.N. Food and Agriculture Organization said Friday.
Wall Street is drifting higher after reports showed the job market remains solid, but key parts of the economy still don’t look like they’re overheating.
The Biden administration is docking more than $2 million in payments to student loan servicers that failed to send billing statements on time after the end of a pandemic payment freeze.
The nation’s employers added a robust 216,000 jobs last month, the latest sign that the American job market remains resilient even in the face of sharply higher interest rates.
A U.S. labor agency has accused SpaceX of unlawfully firing employees who penned an open letter critical of CEO Elon Musk and creating an impression that worker activities were under surveillance by the rocket ship company.
