Economist Moore predicts ‘exuberance’ in financial markets if coronavirus cases decline, schools reopen

Economist Stephen Moore said a potential decline in coronavirus cases and the reopening of schools could lead to an “exuberance” in financial markets. 

“If that happens, you’re going to see a lot of exuberance, not just in the financial markets, but in the real economy as we can start to get schools re-open,” Moore told radio host John Catsimatidis on his show broadcast on WABC 770 AM Sunday.

“We can get business reopened. We can get stores reopened. … All in all, a pretty good week for the American economy.“

Moore, an economic adviser and ally of President Trump, added that the press is misrepresenting the state of the pandemic, which has claimed the lives of more than 170,000 Americans, according to a count by Johns Hopkins University. 

In July, the U.S. saw a severe surge in new daily coronavirus cases in states such as Florida, Texas, Arizona and California. And while these states are seeing a reprieve in new cases this month, several other states have seen caseloads climb in recent weeks including Hawaii, North Dakota, South Dakota, Wyoming and Maine, according to data collected by The New York Times.

Trump and his administration have strongly advocated for reopening schools across the country. Earlier this week, the Department of Homeland security issued a guidance that classifies teachers as “critical infrastructure workers,” meaning they are advised to keep working even if they have been exposed to the coronavirus, as long as they are asymptomatic.

However, school districts and local leaders have expressed concerns that children will be returning to the classrooms without proper precautions in place, potentially putting students and staff at risk for contracting the virus. 

In addition, several universities that welcomed students back to campus this semester have seen outbreaks of coronavirus, forcing administrators to mandate classes be conducted online. Most recently, the University of North Carolina system made the adjustment after several clusters were identified on its campuses. 

As U.S. heads into the fall, public health officials have warned that this fall and winter could be one of the worst on record for the health of Americans when the coronavirus continues through flu season. 

During the interview, Moore also took a swipe at mayors of major American cities, which have seen large demonstrations protesting racial injustice and police brutality. 

“We need better leadership in America’s major cities. It is a disgrace that these mayors, and oftentimes governors, have allowed the hoodlums and the criminals to run their cities,” Moore said.

John Catsimatidis is an investor in the Hill