The president is looking to reopen most U.S. businesses by May 1st. This week, the Trump administration announced it wants to get most of the U.S. economy up and running again after the “deadline for strict social distancing measures” on April 30th.
Billionaire philanthropist Bill Gates has suggested the reopening of businesses could be here as soon as May. During a recent interview, he stated the U.S. will have to find a way to resume normal life without a vaccine.
According to the World Trade Organization (WTO), international trade could drop as much as 32% this year due to the coronavirus outbreak. On Wednesday, WTO Chief Roberto Azevedo claimed virus lockdowns have created major shocks to both supply and demand worldwide.
St. Louis Fed President James Bullard has downplayed the economic risks posed by coronavirus related shutdowns. On Sunday, Bullard stated the U.S. economy is not in “free fall” as some commentators have claimed.
President Trump has touted his administration’s continued effort to combat the ongoing coronavirus pandemic.
In the wake of the coronavirus outbreak, the stock market has responded with dramatic ups and downs. However, all eyes were on Friday’s job report, which showed strong gains for the month of February. One America’s chief White House correspondent Chanel Rion has more from Washington.