US should give citizens $1,000 a month to limit coronavirus impact on economy, strategist says [CNBC]
NATIXIS UNSP/ADR (NTXFY)
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Source: CNBC
Tatna Maramygina / EyeEm | EyeEm | Getty Images The U.S. should follow 's lead and give a cash handout to its citizens amid the coronavirus pandemic, a strategist told CNBC Friday. "This is not a financial crisis," Andrew Freris, CEO of Ecognosis Advisory, told CNBC's "Capital Connection." "It is a crisis about the real economy." He noted that in 2008, central banks used stimulus to respond to the collapse of the U.S. mortgage market — but he said nothing of the kind was happening right now. "The concern here is what's going to happen with the real economy," he said. "Now I'm afraid pumping in more money to support the financial sector does absolutely nothing where the real problem is." Although he said it was good news to see central banks like the U.S. Federal Reserve take steps to support financial markets, Freris added that lowering interest rates would do "absolutely nothing" to address the core cause of the current economic turmoil. Central banks around the world, including the
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