White House to announce economic coronavirus task force soon: senior administration official
Reuters
Published Apr 09, 2020 10:39AM ET
Updated Apr 09, 2020 12:00PM ET
WASHINGTON (Reuters) - The White House is expected to announce soon formation of a second coronavirus task force, this one devoted to getting the U.S. economy going again when the time is right, a senior administration official said on Thursday.
Trump said earlier this week that he was considering the idea as he ponders when to bring back greater economic activity and rebound from a virus-induced collapse in the economy that has left millions jobless.
The task force is expected to include Treasury Secretary Steven Mnuchin and White House senior economic adviser Larry Kudlow, among others, the official said.
Trump's original task force, which includes health experts Dr. Anthony Fauci and Dr. Deborah Birx, is devoted to slowing the spread of the virus and finding drugs to treat the illness and a vaccine. They are expected to have input on any decision on when broader economic activity should resume.
Trump, seeking re-election on Nov. 3, is eager to bring the economy back to life and said on Wednesday he would like to have a "big bang" reopening but that it might have to be done in phases, starting in areas with fewer infections.
Kudlow said on Tuesday it was possible to resume economic activity in four to eight weeks.
White House spokesman Judd Deere said "this unforeseen, unprecedented crisis has hurt many workers and businesses" but that Trump will be careful regarding when to reopen the economy.
"The president wants to see this economy open again so people can get back to work, but scientific data will drive the timeline on those decisions because his number one priority is to protect the safety and well-being of the American people," he said.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.