White House officials are increasingly predicting a swift economic recovery as they break off talks with Congress on additional federal stimulus, expressing optimism that the “reopening” of states will reverse the economic damage caused by the novel coronavirus.
President Trump and his senior advisers, encouraged by the relative strength of the stock market and some indicators like credit card receipts, have in recent days expressed confidence that the U.S. economy will roar back to life in the second half of this year despite staggering increases in unemployment and small-business closures.
“It almost feels like today is the first day,” Trump said during a White House meeting on Monday. “People are starting to go out. They’re opening. They get it.” Continue reading.