“I think they need to put more money into the helicopters.”
This is Anthony Scaramucci, founder of SkyBridge Capital and former head of communications for the White House, explaining to CNBC in an interview published Thursday what he thinks the government must do to restart the economy.
“Helicopter money” is a phrase used to describe when central banks rain cash, as if it were coming out of a helicopter, on the public to stimulate the economy. In this case, Scaramucci, according to his company’s calculations, said that each adult should receive $ 3,000 and each child should receive $ 1,500, up from the previously announced stimulus plan of $ 1,200 and $ 500, respectively,
He also said that strict social distancing measures could begin to ease next month.
“I think it’s going to be a soft opening of the American economy in the first week of May, people will be masked and maybe two weeks later, hot areas like New York and New Orleans and Detroit”, explained Scaramucci. “It will be a slow walk on the way home but getting people back to work, I think, will cheer up and it will improve the economic outlook.”
Meanwhile, the stock market was doing its part to cheer up during Thursday’s session with the Dow Jones Industrial Average
, S&P 500 Index
and high-tech Nasdaq composite
all pushing much higher.