Economist Stephen Moore is predicting the economy will soar next year as the COVID-19 vaccine rolls out across the country.
In an interview with John Catsimatidis on his radio show "The Cat's Roundtable" on WABC 770 AM, Moore said that “the calvary is coming — and that the vaccine will set up the economy for a “blockbuster 2021,” The Hill reported in advance of the airing.
Moore said the Federal Reserve is estimating economic growth between 5-6% next year.
The Department of Labor reported a seasonally adjusted 885,000 jobless claims in the second week of December, a three-month high.
Health and government officials began the massive inoculation effort this week, administering Pfizer and BioNTech’s coronavirus vaccine to at-risk and essential populations. On Friday, and the government began distributing Moderna’s coronavirus vaccine. The government's on track to allocate 20 million does by the end of the year, officials said.
The efforts began as Congress inches closer toward a deal on a $900 billion coronavirus relief package, which is expected to be attached to a spending package that will keep the government funded through the end of the fiscal year.
But Moore told Catsimatidis the “the stimulus is the vaccine,” calling the Trump administration's Operation Warp Speed “the greatest government initiative that I’ve seen in my lifetime.”
“Nobody thought it was possible to do within the year,” Moore said. “And, low and behold… Donald Trump has done it,” Moore said.