The American economy registers " many encouraging signs " compared to the beginning of April, estimated Monday an economic adviser of the White House, excluding for the moment a new package of aid.
Read also: United States: the scenario of unemployment at 20-25% and a fall in GDP of 30%
" If the economy is recovering more slowly than expected, then we may need to put more money into it and we are ready to discuss this with Congress, but right now we think the data needs to be monitored "Said Kevin Hassett on CNBC. " And frankly, when we do that, we see many encouraging signs ," he said, explaining that it is based on data that private companies have agreed to share with the Trump administration.
To date, Congress has provided some $ 2.9 trillion in budget support to households, businesses, health care providers, and state and local governments, or about 14% of gross domestic product.
Next excellent year?
Authorities are monitoring social distancing measures which show that people are returning to stores. " Basically, we were about 50% closed at the start of April and we're halfway there ," said Kevin Hassett. According to him, the American economy will record " a very solid fourth quarter and next year will probably be excellent ".
" I do not agree that this (the slowdown or sluggish growth) will last until the end of 2021, " he also added, referring to statements by the president of the Central Bank American.
Jerome Powell said on Sunday that "it will probably take a little while, or even some time, it could go until the end of next year, so we don't know. Before the US economy recovers. For Kevin Hassett, the travel and leisure sector is undoubtedly the most problematic, citing the delicate situation of Hawaii where 33% of the working population has applied for unemployment benefits.
" Fortunately, there weren't many sick people (from the Covid-19) in Hawaii, but the economic downturn really affected them, " he said, saying it would likely take a long time to a return to normal. States like the one in Hawaii "will continue to be the hardest hit even when the economy recovers, " he said.
