This article appeared online at TheNewAmerican.com on Monday, May 25, 2020:
Green shoots are appearing as the economy is starting to rebound from the COVID-19 shutdown.
On Saturday President Trump’s economic advisor Kevin Hassett told CNN, “It looks like the economy is picking up at a very rapid rate. In which case we could potentially move on to other things that the president has mentioned, like the payroll tax cut and potentially even a capital-gains holiday.”
That would provide additional fertilizer to an economy that hasn’t seen much light or water for the last two months. But businesses are reopening and credit-card usage is rebounding. Airline travel as measured by TSA screenings has more than tripled since their nadir on April 14.
Truckstop.com, which monitors trucking activity, says its weekly index has improved for four straight weeks and available loads were up 27 percent last week.
Property showings in the real estate market are also up 27 percent as of Saturday, and the Mortgage Bankers Association is reporting a rebound in the number of new mortgage applications. Last week Delta Airlines announced that it is restoring some flights between key cities such as New York and Atlanta. The airline is also restoring daily flights to Canada, the Caribbean, Central and South America, Mexico, and Europe.
Last week President Trump signed an executive order instructing regulatory agencies in the Executive branch “to use any and all authority to waive, suspend and eliminate unnecessary regulations that impede economic recovery.”