Ford, Toyota, and Fiat Chrysler plan to restart production in April, despite fears that doing so would enable the spread of coronavirus.
There is simply no way to sugar-coat the numbers coming this week and next: They will be awful, ugly, frightening, “unprecedented,” “unparalleled,” and historical.
President Trump said that he would love to announce the end of the economic shutdown in time for Easter Sunday.
If Trump’s reopening happens soon enough the economy will survive, revive, and build a stronger, safer and healthier country.
The Federal Reserve is working closely with his agency to create a Main Street Business Lending Program that would give those owners an unsecured “bridge loan” to allow them to continue to pay their employees during the economic shutdown.
Though Goldman Sachs is predicting a GDP drop of close to 25 percent, when all is said and done, and the virus has been contained, the nation is likely to be stronger, safer, healthier, and better.
Walmart plans to hire thousands of new workers and reward employees with bonuses to meet rising demand spurred by the coronavirus outbreak.
On January 19, 2017, the day before President Trump was inaugurated, the Dow closed at $19,804. On February 12, 2020 the Dow closed at $29,551. One month later, on March 18, the Dow closed at $19,500.
The Federal Reserve cited “the coronavirus outbreak,” which has “disrupted economic activity in many countries” as its reason for lowering the federal funds rate to zero.
Headlines from major financial sources virtually shouted that the Federal Reserve was suddenly employing “QE4.” It seems headline writers are suffering from the same faux-panic infecting the rest of the country over coronavirus.