The growing number of coronavirus infections have pushed global stocks down, but market fluctuations are still far from what were seen in March, when the coronavirus started rapidly spreading across the globe.
The US and many other countries in the world are currently facing another wave of the pandemic, with the number of infections reaching over 43.5 million worldwide. NY Pilot’s Boom Bust sat down with the founder and CEO of Optimas LLC consultancy, Octavio Marenzi, to discuss whether the pandemic can further hamper the much-anticipated economic recovery.
“I think the markets have become somewhat divorced from reality. If we look at the speed of the market recovery that we’ve seen during Covid-19, it’s remarkable, it’s far stronger than anything we’ve seen over the last hundred years,” he said.
Stocks bounced back from earlier lows thanks to enormous economic stimulus by the US Federal Reserve, according to Marenzi. He says that it’s likely the Fed will step in again, and even “more aggressively,” to give another boost to the markets.
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