U.S. Economy will ‘Go Backwards’ Without $600 Weekly Unemployment Benefit

Billionaire Tilman Fertitta told CNBC on Tuesday that ending the $600-per-week federal unemployment supplement will impair the U.S. economy’s recovery from coronavirus-induced damage. 

“You’re going to see this economy go backwards when we cut out this $600 a week,” Fertitta, chairman and CEO of restaurant giant Landry’s, said on “Power Lunch.”  

Fertitta, who also owns the NBA’s Houston Rockets, said the weekly check — which comes on top of state-level benefits — has been a major catalyst for consumer spending during the nation’s Covid-19 outbreak. And that spending has in turn created additional jobs, Fertitta argued. Read more…

Chart of the Day

        <h2>Icarus TV</h2>      
    <p>Landry's chairman and CEO Tilman Fertitta calls into 'Power Lunch' to discuss his thoughts on the GOP stimulus package. </p>https://youtu.be/L_lzVuRxoys

Share This Post

Leave a Reply