US VP Pence: US economy will come “roaring back” after coronavirus

Eren Sengezer FXStreet

The United States is working with China to combat coronavirus, US Vice President Mike Pence said during an interview with CNBC on Friday. "Economic fundamentals continue to be strong," Pence added. "The US' economy will come roaring back after coronavirus."

Market reaction

These comments failed to help major equity indexes in the US rebound. As of writing, the Dow Jones Industrial Average was down 4.2% on the day while the S&P 500 was erasing 3.8%.

Additional takeaways

"There will be areas of the country that will need continued mitigation efforts."

"We will be giving guidance to different regions of the country in the days ahead."

"The federal government will continue to flow resources to hard-hit New York."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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