>> Sandra: FOX NEWS ALERT ON

THIS TUESDAY MORNING, ON THE

HOLIDAY WEEKEND AS OUR ECONOMY

REOPENS ALONG WITH MANY OTHER

COUNTRIES.

THE MARKETS ARE UP BIG THIS

MORNING ON POSITIVE NEWS OVER

VACCINES.

THE DOW IS UP 675 POINTS SO IT

LOOKS LIKE THINGS ARE TURNING A

CORNER, AT LEAST FOR NOW.

"THE WALL STREET JOURNAL"

FEATURING THIS HEADLINE THIS

MORNING FOR ECONOMY, THIS

SHUTDOWN MAY BE OVER.

HOTEL BOOKINGS AND THERE ARE

SIGNS THE ECONOMY IS COMING BACK

TO LIFE.

LARRY, GOOD MORNING AND WELCOME.

IT FEELS SO GOOD TO BE ABLE TO

TALK POSITIVELY ABOUT THE

REOPENING OF THE COUNTRY, THE

STOCK MARKET IS RISING.

THE S&P 500 BACK ABOVE 3,000

SINCE MARCH 5TH WE HAVE NOT BEEN

ABOVE THAT LEVEL.

I HAVE NOT ASKED TO PREDICT

WHERE THE STOCK MARKET IS GOING

BECAUSE I KNOW THE ANSWER.

BUT HAS THE ECONOMY HIT BOTTOM

AMID THE PANDEMIC?

>> I THINK IT'S POSSIBLE.

I MEAN I THINK YOU ARE IN A

TURNING ZONE PHASE AND AS WE'VE

SAID TIME AND AGAIN, THE

SECOND QUARTER IS GOING TO BE A

ROUGH QUARTER.

IT'S A PANDEMIC CONTRACTION.

LOTS OF HARDSHIP ON THE

UNEMPLOYMENT CLAIMS AND A LOT OF

HEARTBREAK THERE.

BUT THESE SIGNS, AND I THINK THE

MARKET IS A RALLYING ON SIGNS,

THESE SIGNS ARE SHOWING A LOT

MORE GLIMMERS OF HOPE AND GROWTH

AND ASSIGN SEEM TO BE MOUNTING.

THE CONSUMER CONFIDENCE NUMBER,

THE NUMBER WAS UP A BIT WHICH

WAS GOOD BUT IN SIX MONTHS THEY

HAD THE SIX-MONTH EXPECTATION

COMPONENT AND THAT'S WHERE YOU

SEE A BIG TAKEOFF AND CONSUMER

CONFIDENCE.

I THINK FOLKS SEE THAT THE VIRUS

FIRST OF ALL IS FLATTENING ON

ITS WAY DOWN AND THEY SEE

BUSINESS OPENING, THEY

THEMSELVES FEEL LIKE GOING OUT

AND SPENDING AND THESE ARE ALL

VERY POSITIVE DEVELOPMENTS THAT

WILL SHOW UP IN THE DATA,

PERHAPS IN JULY OR AUGUST.

THE THIRD QUARTER COULD BE THE

FASTEST GROWING QUARTER IN U.S.

HISTORY AND THE WHOLE

SECOND HALF IS GOING TO BE VERY

STRONG AS WE REOPEN THE ECONOMY

AND AS AMERICANS COME BACK TO

RECOVERY.

THIS IS A TRANSITION TO

RECOVERY, AND AS THE PRESIDENT

SAID, TRANSITION TO GREATNESS.

>> Ed: LARRY YOU ARE LOOKING

AT POSITIVE HOPEFUL SIGNS, AND

YOU HAVE SOME WE HAVE SLOW

WALKING ON REOPENING PARTS OF

THE ECONOMY PERHAPS TO HURT HIM

POLITICALLY.

THE WALL STREET EDITORIAL

JOURNAL, THE BLUE STATE LOCKDOWN

BLUES COME THE SLOW REOPENING

LIBERAL STATES WILL HURT THE

RECOVERY AND THEY SAY

CALIFORNIA, NEW YORK AND

NEW JERSEY MAKE UP 30% OF THE

ECONOMIES OF THEIR BUSINESS

CARNAGE WILL AFFECT FARMERS,

MEAT PROCESSORS, TRUCKERS,

MANUFACTURERS AND SUPPLIERS

NATIONWIDE.

WHAT'S YOUR MESSAGE TO SOME OF

THE STATES LIKE CALIFORNIA THAT

ARE MOVING SO SLOWLY?

>> THESE ARE STATE DECISIONS AND

GOVERNOR DECISIONS.

THE PRESIDENT HAD SAID I WOULD

LIKE TO SEE THE REOPENING.

I WANT TO SEE THE BUSINESSES

REOPEN AND THEN THE JOB NUMBERS

ARE GOING TO COME IN MUCH, MUCH

BETTER.

BUT IT'S GOT TO BE DONE SAFELY.

IT HAS TO BE DONE SAFELY.

I CAN'T MAKE THAT JUDGMENT, I

WILL LET THE PRESIDENT MAKE THAT

JUDGMENT, AND HE HAS A

BIRD'S-EYE VIEW PERHAPS THAN I

DO.

BUT I THINK THOSE GOVERNORS KNOW

THAT FOLKS WANT TO GO BACK TO

WORK AND FOLKS WANT TO RESTART

THEIR BUSINESSES.

THERE ARE TINY SIGNS EVEN IN

SOME OF THOSE STATES OF THE

REOPENING.

SO WE WILL SEE, IT'S GOT TO BE

DONE SAFELY AND YOU HAVE TO HAVE

THE SOCIAL DISTANCING, YOU HAVE

TO HAVE THE TESTING AND SO FORTH

AND NOBODY DISAGREES WITH THAT.

I LIKE TO SEE IT FAST BUT IT'S

GOT TO BE SAFE.

YOU KNOW, PEOPLE -- WE BELIEVE

IN PERSONAL FREEDOM.

A LOT OF PEOPLE WANT TO EXERCISE

THEIR PERSONAL FREEDOM AND TO

GET OUT THERE AND START SHOPPING

AND RUNNING THEIR SMALL

BUSINESSES AGAIN.

SO WE WILL SEE.

THE POINT IS AT THE MARGIN, WE

WILL BE MAKING VERY GOOD

PROGRESS AND WE HAVE THESE

GLIMMERS OF HOPE, WE HAVE THESE

GREEN SHOOTS.

TEN YEARS AGO I USED TO CALL

THEM MUSTARD SEEDS THAT WILL

GROW UP INTO A MAJOR RECOVERY.

I THINK THE SAME THING IS

HAPPENING NOW ONLY ON A LARGER

SCALE.

>> Sandra: BUT ONLY YOU AS AN

ECONOMIST TO THE PRESIDENT HAVE

BEEN PLANNING THE UNKNOWN AND

THE UNCERTAINTIES.

AND SHE DOESN'T THINK THAT THE

U.S. STOCK MARKET IS TOO

OPTIMISTIC AT THIS POINT, AND

WHAT HE FEARS IS THE

VULNERABILITY IS CONSIDERING OUR

SKY-HIGH UNEMPLOYMENT RIGHT NOW

BECAUSE OF THE PANDEMIC, THE

UNCERTAINTY OVER THE VACCINE AND

A SECOND POSSIBLE WAVE OF THE

CORONAVIRUS.

WHAT DO YOU BELIEVE ARE THOSE

HIDDEN VULNERABILITIES FOR OUR

ECONOMY?

>> YOU KNOW, YOU TALK TO OUR

HEALTH EXPERTS AND THEY WILL

SAY, WE KNOW SO MUCH MORE AND WE

HAVE SO MUCH MORE EXPERIENCE

NOW.

LET'S ALSO GO, WE ARE REALLY

DOING LIGHTNING SPEED THE FIRST

OF ALL ON THE DEVELOPER TO

VACCINES AND THE DEVELOPER TO

THERAPIES AND MEDICINES WHICH I

THINK ARE VERY IMPORTANT.

I THINK PEOPLE WOULD BE HAPPY OR

EVEN TO KNOW THAT IF THEY GET

THE VIRUS, THERE IS A MEDICINE

AND A THERAPY THAT THEY COULD

TAKE TO DEAL WITH IT RIGHT AWAY.

THE SCIENTISTS AND THE BIOTECH

COMPANIES, THE PRESIDENT HAS

ALWAYS STRESSED THE PRIVATE

SECTOR COMPONENT AND THAT'S PART

OF THE BRILLIANCE OF HIS

ECONOMIC THINKING.