Posted on 04/09/2020 8:32:11 AM PDT by yesthatjallen
Federal Reserve Chair Jerome Powell warned Thursday against prematurely breaking from social distancing practices as President Trump and other administration officials hope to reopen swaths of the economy by May.
Powell said that while it was “time to have a serious conversation” about how to restart normal economic activity, the Fed chair warned against causing a spike in coronavirus cases that forces the U.S. into another stretch of business closures and layoffs.
“We need to have a plan nationally for reopening the economy. We all want it to happen as quickly as possible,” Powell said in a Thursday video interview with the Brookings Institution.
But the Fed chief added that it was crucial to “avoid a false start where we will partially reopen and that results in a spike in coronavirus cases, and then we have to go back again to square one.”
Powell’s warning came after he was asked if he shared Treasury Secretary Steven Mnuchin’s belief, expressed in a CNBC interview earlier Thursday, that the U.S. could be “open for business” by May.
SNIP
(Excerpt) Read more at thehill.com ...
Another “expert” weighs in.
Mnuchin says he thinks US businesses could reopen in May
Treasury Secretary Steven Mnuchin said Thursday that he thought the United States could reopen the economy during the month of May.
“I do,” Mnuchin told CNBC host Jim Cramer in a phone interview on Thursday morning in response to a direct question about whether the country could be “open for business” in the month of May.
“I think as soon as the president feels comfortable with the medical issues, we are making everything necessary that Americans companies and American workers can be open for business and that they have the liquidity to operate their business in the interim,” Mnuchin continued.
Doesn't that make you feel warm and fuzzy? Our superiors are going to have a "serious conversation."
Practicing without a license. Isn’t that an impeachable offense?
I didnt know he was our elected leader!
actually he has a point. The restart needs to be done at the right time, starting to soon and then having to re-close everything again.. would be REAL bad. I think we got one good change to charge out of this full throttle and maybe get the economy back pretty quickly if we do it right.
Millions unemployed, small businesses dying, people being jailed for the crime of leaving their homes... yes, let’s avoid a “false start”, better make sure America is completely dead before reopening.
Pandora’s Box was opened.
Is this idiot a Dr?
Of course he isn’t.
He is a hack.
And where is he wrong?
chloroquine-Zpak is the answer. THe minute we have a decent stockpile, put the country back to work
You beat me to it! First journalists and now the Fed Chairman, closet epidemiologists all. America’s domestic enemies are making themselves known in droves.
My thought exactly. Lots of "experts" out there ... little wisdom.
Put NY and NJ under tight lockdown and for the rest of the country, begin opening the economy.
Hey, Fed - stay in your lane.
None of them wants it to re-open and thus re-elect the President. Every one who says they do is a feckless liar. What the President wants to do and what will be done will be handled at the local level to keep things the same. Keep the people scared and in control. Liars all
“And where is he wrong? “
The unelected Fed Chairman is not in charge of when businesses can open and close.
Wait. What? Exactly what are Powell's credentials and authority in this area to make such a pronouncement to the nation?
Outrageous.
“We need to do this right.” Mega high fives! That’s brilliant.
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