America's economy is suffering from notable harm after significant closures that have lasted for weeks now. Amidst an increasing millions of jobless Americans, pressure to reopen the economy is mounting. People are furthermore pointing out that perils linked to COVID-19 will pale in comparison to the fallout from significant economic decline.

In light of all this, new developments suggest that the Trump administration is seeking ways to reopen the economy by early May. The president himself has ongoingly maintained that the cure to coronavirus cannot be worse than the problem itself.

The Possibility of a Reopened Economy in May 2020

Reports indicate that Trump and leading government officials have discussed various means of restarting the nation's economy. Apparently, the president would like to reopen parts of the economy with little to no cases of COVID-19. Furthermore, Treasury Secretary Steve Mnuchin maintains that the restart of businesses in May could take place, so long as the president is "comfortable" with health matters.

However, reopening the nation's economy will require work at the state level. Many governors across America have issued stay-at-home and shelter-in-place orders. Some of these orders last through April, whereas others are set to maintain through June and possibly even longer.

Per health officials from the coronavirus task force, the worst periods of COVID-19 are likely to pass soon. According to Drs. Deborah Birx and Anthony Fauci, social distancing is working and stopping the spread of coronavirus. On Thursday, Fauci stated that "cautious optimism" is present as officials monitor the situation and project a turnaround.

Offsetting Economic Harm from Mass Shutdowns

While so much of the economy remains closed, President Trump and his administration have taken action to provide some financial relief to Americans. Passing the CARES Act allows qualifying people to receive cash payments from the government; meanwhile, small businesses, large corporations, and others are set to get certain loans, grants, and other forms of financial aid.

New reports indicate that some Americans may start receiving their stimulus checks from the government as early as today. The first round of payments will arrive to roughly 50 million Americans; deposits could tentatively appear in workers' bank accounts between April 9 and April 14.