Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here.
Continue Reading Below
FOX Business’ Stuart Varney, in his latest “My Take,” argues that Memorial Day weekend will be a test of economic strength since Americans will be spending time and money outside coronavirus lockdown.
“This is going to be a test,” he said. “How many of us will use the break to get out and about? How many will support the stores and restaurants that are allowed to open? In short, will we, as a nation, bring this economy back to life this weekend?”
Varney said he believes it’s “imperative” Americans try to revive the economy this weekend since our nation has already lost 38 million jobs, witnessed bankruptcy among businesses and states, and experienced a lockdown that’s created a mental health crisis.
“And a Treasury that’s bleeding trillions,” he said. “It’s time to open up!”
According to a JP Morgan report, Varney said, reopening the country will not cause a rise in coronavirus cases. The report states, “data showed that with a greater than 99 percent significance, infection rates fall after lockdown orders are lifted."
“We weren't expecting that,” he said. “That's not what the media was telling us.”
Varney said Florida reopened early and saw a decline in death and infections while revolts against lockdowns nationwide continue.
“Across the country, businesses are in defiance,” he said. “It’s either open up or go bankrupt. What would you do?”
What we do as Americans within the three-day weekend, Varney said, will have a big impact on economic and human recovery.
“It’s a test of our ability to come back strong,” he said.