According to the Layfield Report CEO John Layfield, that it is expected no normality will be seen in the US economy in the near future.
Layfield said that due to coronavirus shutdown economy already faced a downfall in the US economy but still there are so many unknown variables surrounding that what the country will look like in the upcoming months. We are not seeing any V-shaped recovery in the future.
During the interview, he said in an interview given to the Fox News Rundown with the host Jessica Rosenthal that in front of me V-shaped recovery means we go back to normal. We are going to have normal. We are going to have a recovery. But the good part is that we are not going back where the economy falls, we are going to be normal where the economy will rise any time in the near future.
In addition, he said that in most of the American states are going to reopen their businesses so it might be within six months or more than six months we will see the best scenario in the economy. We will wait for the change in the economy.
Before the coronavirus hits the economy, You tell restaurants that we are going to open you again in just three months. Right? He gives his remarks that we will permit you to open up your restaurants at 50% not fully opened. If you fully open your restaurants so I will close you immediately. You can’t be open your bars also with all precautionary measures your all customers have a gap of at least six feet apart. So, after that bar owner, and the restaurant owner will tell you that he can’t be open his restaurant according to the given numbers.
Layfield added that the best scenario will happen when we come back. So, according to me, that’s a good decision to open the economy back again. But the expectations are Lil bit unrealistic as I think that we are not going to open up and see the normal that we had back in December, January when we had a pretty good economy before this virus attacks.
Rosenthal interjected that Americans might be confused as thousands of protesters marching city streets against the George Floyd death. But at the same time, due to the health restrictions, they can’t reopen their livelihoods.
Well, It gives you a feeling if you are thinking in your mind that you’re saying some businesses are going to, you know, keep these modifications even if other segments of society respond to react differently, she said to Layfield.
He gives his answer to her that I think they will.
According to Layfield that when he visited Texas, he observed that no one will take precautionary measurements properly, that they were taking very little social distancing also they are not wearing face masks.
As you can see that COVID cases are increasing not to decreasing as medical experts were saying they were going to increase more, Layfield said. Down south, there is a lack of education about the precautionary measures because the people who lived there said that they are not seeing any new case in hospitals and not even they seeing a case of any sickness.
This week coronavirus patients hit a record very high in hospitals.
On Wednesday, according to the Texas Department of State Health Services, in hospitals around 2,153 patients have Covid-19 symptoms, also coronavirus patients are increasing day by day. As on Tuesday, 97 patients are more admits to the hospital because they are positive of COVID-19. On Monday, 2,056 were hospitalized and 218 more than the 1, 935 people hospitalized.
Layfield admitted that he was not sure where the people would stand in this issue and they will face. The most fastest and aggressive reopening was witness by Texas in the US.
In downtown Texas people still want social distancing that is quite prominent if you visit any restaurant, as compare to the people living in the northeast.
In some parts of the country, the economy will restore fairly quickly enough that we will see the businesses run the same way they were running before Covid-19. I do have concerns that some parts of the country may not match the speedy recovery of the economy that may cause them to lack behind.