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President Donald Trump said on Monday he is seeing how to resume the U.S. economy when a 15-day shutdown ends next week, even as the highly epidemic coronavirus is spreading quickly and hospitals are preparing for a wave of virus-related deaths.
“America will again and soon be open for business,” Trump said in a White House news conference. “We are not going to let it turn into a long-lasting financial problem.”
Trump announced instructions a week ago that he said designed to slow the development of the disease over 15 days, including restraining unnecessary tours and travel. In the meantime, economic activity has sufficed to a close in some states.
But looking at the loss of many jobs and a quick fall in stock markets and facing a tough re-election controversy, Trump has discreetly expressed his issues to aides and allies about the consequence of the restrictions on the long-term health of the economy.
Trump expressed to reporters that it was possible to resume economic activity in states with what he said were relatively low rates of infection, citing Nebraska, Idaho, and Iowa as examples, while pursuing to work on the hot zones in other states like New York.
“If it were up to the doctors, they’d say let’s shut down the entire world,” said Trump in a statement.
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
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