APRIL 27, 2020 – SOME STATES START TO REOPEN
As nearly one in six workers are out of a job in the United States, some states are starting to slowly reopen for business. At last count, 26 million people are out of work with levels of unemployment not seen since the Great Depression of the 1930’s.
Georgia, Oklahoma, Florida and South Carolina have announced certain businesses and areas are permitted to open, albeit some under restricted access. Other states are expected to announce similar plans in the upcoming days.
The FOMC is scheduled to meet this week, though there is no expectation for them to forecast how long interest rates will stay at current levels. Economists surveyed by Bloomberg say they think interest rates will remain near zero until 2023 as its the bank’s aim to lift the economy and until employment levels rebound.