Trump On Opening The Economy: “I Hope To God It’s The Right Decision”

During today’s task force press briefing, Donald Trump let Americans know that opening the economy is at the forefront of his mind.

Trump threw out two different names:

1. Opening Our Country Task Force

or

2. Opening Our Country Committee

President Trump wants to reassure Americans that no matter the name, he will be announcing Tuesday what the official task force will be called, and the functions designated for the task force. Trump says that this task force will work beyond just worrying about the economy. It will consist of medical members and economic leaders to be able to look at all issues to make educated decisions.

Trump:

“I don’t know that I have had a bigger decision, but I am going to surround myself with the greatest minds. Not only the greatest minds but in numerous different businesses, including the business of politics and reason. And we are going to make a decision, and hopefully, it is going to be the right decision. I will say this, I want to get it open as soon as we can. We have to get out country open.”

Pres. Trump says he will "surround myself with the greatest minds" to make decision on when to reopen country.

Asked what metrics he will use to make the call, he points at his head: "The metrics right here. That's my metrics. That's all I can do." https://t.co/fRq5Ou4n42 pic.twitter.com/6gfC3FWJAX

— ABC News (@ABC) April 10, 2020

Trump does not want to open the country too soon and cause large spikes in coronavirus cases but feels the cure cannot be worse than the virus. The longer the country stays closed, the worse the treatment is for our country.

Trump announces plans for Opening Our Country Council. Will announce names on Tuesday.

"I wanna get [the country] open as soon as possible."

Acosta: Are you determined…

"The facts are gonna determine what I do" pic.twitter.com/fUQ2jLmRrd

— Daily Wire (@realDailyWire) April 10, 2020

The President also addressed J.P. Morgan’s prediction for a lousy quarter two.

J.P. Morgan’s Forcast:

“J.P. Morgan’s economic forecasts see lasting damage from the COVID-19 shock. A two-quarter GDP contraction is expected in both the U.S. (-10% and -25%) and the Euro Area (-15% and -22%). Our forecast continues to embed an assumption that the virus runs its course by June and that the global economy will rebound in the second half of the year, with U.S. GDP projected to climb to 6% growth (annualized rate) over the final two quarters assuming that social distancing policies are significantly relaxed by mid-year. This leaves the level of U.S. economic activity 10% below the pre-virus baseline. China’s first-quarter growth will experience an unprecedented 41% decline, but is still on track to experience a V-shaped recovery, rebounding by 57% in the second quarter. China’s full-year GDP growth forecast has been lowered to 1.1%, from an initial starting point of 5.9% at the beginning of the year.”

First, the country is closed, and the economy is tanking; it doesn’t take an expert financial analyst to assume quarter two is not going to be great. However, Trump was able to bring the economy back once and there is not a single person in our government; I trust more than him to do it again.

Trump wants everyone to know that the White House is aware that quarter two is not going to be great, but the silver lining for our economy should be coming in quarter three.

As far as the actual date, Trump has not confirmed what date he plans to open the economy back up again. Like I said yesterday I believe that Trump walked into the meeting and told them to come up with a plan for May 1st. In the press conference, President Trump did say that we will know more on Tuesday.

When asked about the decision to open the country back up Trump says:

“I’m going to have to make a decision… and I only hope to God it’s the right decision. I would say, without question, it’s the biggest decision I’ve ever had to make.”

https://twitter.com/PatrickHussion/status/1248700478105341952