Former White House Communications Chief Scaramucci Calls for More ‘Helicopter Money’

Michael LaVere
  • Former White House communications chief Anthony Scaramucci says the US will need to provide more "helicopter money" to help economy.
  • Congress has already announced a $2 trillion stimulus package that includes direct payments to adults and children. 

Former White House communications chief Anthony Scaramucci said the U.S. needs more “helicopter money” to aid in the recovery from the coronavirus pandemic.

According to a report by CNBC, Scaramucci called for more aid to ease the transition of the American economy into a post-lockdown world. He said on CNBC’s Capital Connection program, 

I think they need to put up more helicopter money.

Scaramucci, founder and co-managing partner of the hedge fund Skybridge Capital, said his firm’s calculations showed each American adult would need $3,000 and each child $1,500 in aid, compared to the originally proposed $1,200 and $500, respectively. 

Scaramucci applauded the Federal Reserve cutting interest rates close to zero and pledging to purchase assets “in the amounts needed.” He added that in the last three weeks the Federal Reserve injected "about $1 trillion."

The former communications chief also predicted an easing for restrictions in early May, calling it a “soft opening” for the economy. 

I think it’s going to be a soft opening of the American economy in the first week of May, people will be in masks and maybe two weeks later, the hot zones like New York and New Orleans and Detroit.

He added, 

It will be a slow grind on the way back but getting people to go back to work I think will lift spirits and it will improve the economic outlook.

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