I may be a little premature with this idea, but the US economy is not a light switch.
President Trump should appoint a new business task force to begin planning the who, what, when and how the US economy will reopen.
As the US is seeing the number of new Covid-19 cases beginning to plateau, now is the time to assembly business leaders from across the nation to access the environment and make recommendations on an orderly reboot.
You can’t open factories if the supply chain for raw materials is shuttered. You need and orderly process that will go on for months/years before we get back to “a new normal”.
This needs to be a broad-based business panel that will not only begin the process of jump-starting the economy, but will save lives since most workers will not be needed at the very beginning and do not need to be put in harms way.
We cannot leave this back-to-work decision to the medical profession handling the pandemic. They are not wired that way. While a abundance of caution should be taken, doctors will say, “wait for the vaccine”. The US economy can in no way, shape or form wait that long.
If you look at Wall Street, stocks are seeing the light at the end of the tunnel. Equity markets generally are commenting on what the economy will look like 6 months from now.
Counting Monday’s 1,627 point rise on the Dow and Tuesday morning’s 700 point futures, they anticipate the US economy firing on some cylinders by mid-September.
The White House Press Room optics of talking about getting the economy back up and functioning is far better than asking twenty questions about micromanaging the delivery of N-95 masks.
Announcing the formation of this blue-ribbon panel this week would also re-enforce the notion that the President said two weeks ago about Easter being a great time to turn the corner on this pandemic. Well, the numbers are in your favor. The models predicting large number of deaths are overstated.
Let’s take the green shoots of spring and make it meaningful. It’s time to begin the process of resurrecting the US economy.