Varney: US economy back on the 'road to prosperity'
'The stock market is rallying big time and the economy is coming back strong from the virus lockdown'
FOX Business’ Stuart Varney, in his latest “My Take,” argues the U.S. economy is back on the “road to prosperity.”
“Liberals hate this: The stock market is rallying big time and the economy is coming back strong from the virus lockdown,” Varney said. “The last thing the left wants is the restoration of prosperity right before the election. But that’s the road we're on.”
VARNEY: THERE’S NO STOPPING AMERICA’S ECONOMIC RECOVERY
President Donald Trump speaks during a roundtable discussion about "Transition to Greatness: Restoring, Rebuilding, and Renewing," at Gateway Church Dallas, Thursday, June 11, 2020, in Dallas. (AP Photo/Alex Brandon)
Varney believes President Trump is leading the way.
“First, and very important for the immediate future, is the president's push to relax restrictions and get the economy going again,” Varney said. “He's leading the charge. He's all for opening up because we can't take the economic pain of the lockdown forever.”
Action from the Federal Reserve is also helping, Varney said.
“Second, the Federal Reserve is riding to the rescue. You may disagree with the biggest money printing operation in history, but it is working,” he said. “Corporate America is getting the financial support it needs during this unique virus crisis. Check your 401(k). You'll like what you see.”
VARNEY: WHY WE’RE SEEING THE MOST 'EXPLOSIVE' MARKET RALLY EVER
FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. (AP Photo/Jacquelyn Martin)
Varney believes a potential infrastructure plan from the Trump administration will also boost the economy.
“Third, reports this morning that the administration is considering a massive infrastructure program. A trillion dollars’ worth,” he said. “This is another stimulus plan. Yes, ‘infrastructure’ has been talked about for years, but if it happened now, it would help an economy that’s coming out of the worst downturn ever.”
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Varney said Americans saddened by negative news headlines about the country should remember “the big picture.”
“We're opening up. The economy is growing again,” Varney said. “We are back on the road to prosperity.”