68th Day Of Lockdown

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Business Other News 26 Mar 2020 Many businesses caut ...

Many businesses cautious about restarting economy amid virus

AP
Published Mar 26, 2020, 1:17 pm IST
Updated Mar 26, 2020, 6:01 pm IST
Some business leaders and workers, of course, back the idea of a shorter shutdown
The dining section is closed off at East Side Pockets, a small restaurant near Brown University, Wednesday, March 25, 2020, in Providence, R.I. President Donald Trump wants the country open for business by mid-April, but some experts warn it's not as easy as flipping a switch: Economies run on confidence, and that is likely to be in short supply for as long as coronavirus cases in the United States are still rising. (AP Photo)
 The dining section is closed off at East Side Pockets, a small restaurant near Brown University, Wednesday, March 25, 2020, in Providence, R.I. President Donald Trump wants the country open for business by mid-April, but some experts warn it's not as easy as flipping a switch: Economies run on confidence, and that is likely to be in short supply for as long as coronavirus cases in the United States are still rising. (AP Photo)

Washington: President Donald Trump wants the country open for business by mid-April, but some experts warn it’s not as easy as flipping a switch: Economies run on confidence, and that is likely to be in short supply for as long as coronavirus cases in the United States are still rising.

Trump this week said he wants businesses “opened up and just raring to go by Easter,” which falls on April 12.

 

That contradicts many public health experts, who warn that restrictions should only be lifted gradually and once more data about infection rates is available. They expect efforts to curb the disease will continue for several months at least.

Despite wild swings in financial markets and signs that unemployment is surging  both of which could hurt Trump in an election year  many businesses say it’s not clear that reopening will be even an option in a few weeks.

Business groups, including the U.S. Chamber of Commerce and the National Federation of Independent Business, are cautious. They say reopening is a call health experts will have to make; in the meantime, they’re focused on getting financial help for businesses.

Some business leaders and workers, of course, back the idea of a shorter shutdown. In a weekend post on Twitter, former Goldman Sachs CEO Lloyd Blankfein said those at lower risk should return to work in a few weeks.

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