Coronavirus: Expedia chairman weighs in on economy

The chairman of Seattle-based Expedia said the economy will get a lot worse before it gets better due to the pandemic.

Barry Diller appeared on CBS’ “Face the Nation” Sunday and gave the sobering talk.

“The damage that’s being done is catastrophic,” Diller said. “You’re going to have a massive amount of businesses that can’t return, businesses that go bankrupt. It’s inevitable.”

Though he gave that grim assessment, Diller said the economy could start to return in the fall. “By September, possibly I think, we’ll see some things economically return. I think people will be going back to work,” Diller said.

He said what the nation needs most right now, is clear and uniform guidance from leading researchers and the White House. However, he called President Donald Trump a “witch doctor” who won’t tell the truth.

© 2020 Cox Media Group