The US president Donald Trump ordered states to start the isolation somewhere towards the end of March, after the coronavirus broke out of control in the US. That came after Europe shut down in early/mid March. The major economies have dived in a deep contraction, which will probably turn into a recession in Q2.
The US economy has also dived hard from what we have seen from the recent data, particularly the employment, which has gone up to around 30 million. Now, the economy has become a bigger problem than the virus itself. Larry Kudlow was speaking on Bloomberg a while ago, suggesting that Donald Trump is planing to reopen the country by May and move on from there. Below are his main comments:
WH Larry Kudlow Speaks on Bloomberg TV
- Stimulus talks are progressing nicely
- PPP loan rules weren’t bad to begin with
- May could be a transition month to a better economy
- Pres. Trump has “aspirational goal” to reopen by May 1
- US economy had minimal impact from China tariffs
What is easy to do with some haggling over him the details, is to spend, spend, spend. Washington is no room with that especially if constituents are out of work. If there is an aspirational goal to reopen, I suspect it will be spearheaded by the private sector which is itching to start work again.
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