Kevin Freeman: The US economy is coping with the COVID-19 outbreak

Kevin Freeman, Senior Fellow at the Center for Security Policy and host of Economic War Room on TheBlaze TV, joins Secure Freedom to discuss how the US economy has been impacted by the coronavirus outbreak.

“Financial markets always move in anticipation of what is going to happen and they always overshoot to the downside and the upside. What we are in currently is the normal bear market at least in terms of scope. We are down 30%, which would be a normal bare market and we were at all-time highs just about a month ago. Every 5-6 years we should have a bear market of this type. But there’s something underlying that’s very different and we’ve never seen it before. We don’t know exactly how it is going to transact. It might transact that we rebound very rapidly once we get the virus under control and that’s the most likely outcome and the one most people are expecting.

Steve Mnuchin mentioned if we don’t do something and don’t put a lot of money out quickly it will lead to potentially 20% unemployment. We may get to that 20% unemployment for a temporary measure just because so many people get laid off but I don’t think its long term unemployment and I think the economy will recover.”

Listen to the full show here