Trump Keen to Restart Economic Activity by Early May

Arslan Butt•Wednesday, April 15, 2020•1 min read

Even as the coronavirus pandemic rages on in the US and the rest of the world, US President Donald Trump has hinted at the possibility of lifting the shutdown, at least partially, and restarting economic activity as soon as May 1. Even though public health experts have cautioned against it, Trump has stated that he may give a go ahead to governors of states to restart activities where the rate of infections is lower.

So far, millions of American workers have been rendered jobless over the past few weeks since the Trump administration was forced to implement shutdown to contain the spread of coronavirus across the country. Despite these measures and social distancing, the US has the highest number of infections in the world, with New York being the worst affected epicenter in the country.

Trump has come under fire lately for suggesting that the authority to restart economic activity lay with him, a statement that has been criticised both by health experts as well as state governors across the country. For now, he seems to have backtracked a bit, accepting that he would not pressure states to reopen and would leave the decision to restart economic activity at the state level.

Commenting about the possibility of a rise in cases when the economy is restarted, Trump added, “We’ll have to do something that’s … very serious. We’ll have to maybe close ‘em up and start all over again. But I don’t think we’re going to have to do that.”

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ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.