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.
The bank said it regrets its involvement with Epstein over the years that he was a JPMorgan client. The settlement must still be approved by the judge in the case.
Billionaire investor turned philanthropist George Soros is ceding control of his $25 billion empire to a younger son, Alexander Soros, according to an exclusive interview with The Wall Street Journal published online Sunday.
UBS said Monday that it has completed its takeover of embattled rival Credit Suisse, nearly three months after the Swiss government hastily arranged a rescue deal to combine the country's two largest banks in a bid to safeguard Switzerland’s reputation as a global financial center and choke off market turmoil.
Gene sequencing test maker Illumina Inc. said Sunday that its board has accepted the resignation of its CEO and director, Francis deSouza, effective immediately.
“Any consumer can tell you that online airline bookings are confusing enough," said William McGee, an aviation expert at the American Economic Liberties Project. "The last thing we need is to roll back an existing protection that provides effective transparency.”
Cheddar News checks in to see what to look out for Next Week on the Street as former president Donald Trump makes an appearance in federal court after being indicted. Investors will also keep an eye on the Federal Reserve meeting to see what comes out of that while earnings continue to pour in.
