US economy will continue to recover - Powell

[Lorence.xD]

It is prettysad that as the economy suffers then the people suffer too but with these election going on, they are using it as a political agenda, they could have created a better response through relief but no, they instead bide their time to formulate how to stay in power and people are suffering because of this, I hope that the election will bear a fruit to help the people and the economy stand on its feet again.

[Silberman]

Election is near In November People will decide what the US economy will come in the next presidential term Because if trump needs time to make
 US great Again then people will bring Him back to do His will and to Make what he needs to Finish in the next' term he will be Having.

But I doubt that People of America will Make Him president again,IMO there must be a New one to try another approach specially
in Engaging in Other country in which trump fails to do,Sorry for trump supporters but i
 Just wanna give my opinion over matter.

But at this Moment?things are far different Because There are too many Job losses even before trump take the seat and it is getting worst until now
 so the economy needs to face a lot before being great again.

The greatest problem for Trump is that he sold himself as the person that will solve the problems of the US and make it great again, not a  bad speech if you ask me but now that he has to face a reelection we find out the economy is in shambles, inflation is going to be higher than anticipated, many jobs were lost and hundreds of thousands died because of the pandemic, even if we can say many of these things were not his fault it will be very difficult for him to win the reelection when things are not well in the US.

[Kong Hey Pakboy]

It is prettysad that as the economy suffers then the people suffer too but with these election going on, they are using it as a political agenda, they could have created a better response through relief but no, they instead bide their time to formulate how to stay in power and people are suffering because of this, I hope that the election will bear a fruit to help the people and the economy stand on its feet again.

It would be difficult for US economy to stand on it's feet again same as developing countries because they have increased their debts, and there are still a lot of people who are jobless. There are also countries who continuously increasing their virus cases, that is why this recession is making all of us suffers.

[AniviaBtc]

It is prettysad that as the economy suffers then the people suffer too but with these election going on, they are using it as a political agenda, they could have created a better response through relief but no, they instead bide their time to formulate how to stay in power and people are suffering because of this, I hope that the election will bear a fruit to help the people and the economy stand on its feet again.

People is absolutely affected by the economy, that's why the governments are responsible with how they will deal with that. I'm really not a fan of politics but as I see that the politicians are taking advantage of this crisis, that's the time that a certain country will not be progressive. If people are being fooled by politics and not looking for someone that will make the economy become stable in the long run, then that's a huge problem. Hoping that people will be enlighten by what is really happening in the society. If this economic crisis isn't handled and controlled properly, people will suffer the most especially those who are experiencing poverty.

[shoreno]

It is prettysad that as the economy suffers then the people suffer too

yes there are bind to each other . you cant see that people are unaffected when the economy is down or you cant see that people are affected while the economy isnt .

with these election going on, they are using it as a political agenda, they could have created a better response through relief but no, they instead bide their time to formulate how to stay in power and people are suffering because of this

they are actually busy on providing relief operation but they are also doing an election campaign with that at the same time . this is inapropriate in the eyes of the people because the relief should be given without strings attached .

, I hope that the election will bear a fruit to help the people and the economy stand on its feet again.

if people will do the right job and vote the right people but that still take time to reflect. theres also pandemic that makes all the economy down no matter what,

[hatshepsut93]

The U.S. election is in November, that's about three months to go, there is no way Trumps government can revive the economy in such a short period of time, he's reelection or not will depend on what he's done in the last four years and not this remaining three months before the polls (even if it's possible he revives the economy). Trump has made quite a lot of bad decisions as well as statements he failed to keep to, it's up to the voters now.

Powell didn't choose the wrong words there imo, there is no definite direction for the U.S economy atm, of course the government will do everything possible to get things back on track and to get the jobless working again, but it will take time for this to happen, they have been forced to print more money already this period, a move that could also affect the economy later on. It is what it is and the economy is bound to recover slowly.

The US is a highly polarized democracy with strong tribalism mentality, for Trump to win he doesn't have to satisfy everyone, he just needs to mobilize more of his base than his opponent. Plus there's a lot of propaganda going on that aims to help Trump - convincing voters that voting is useless, that Biden is as bad or not pure enough, that all that is happening is dems fault and so on. Polls aren't looking to bad for Trump, and he can win despite bad polls just like he did the last time. Trump's voters would never blame him for economic failures.

[squatz1]

Further there’s more bad news for the jobless people as he’s claimed that they’ll not be able to land jobs, and thus they will continue to remain jobless in the long run.

Man, I'm hoping that's not going to be the case, because the unemployment "crisis" that happened after 2008/09 was awful, and I can still remember it vividly.  And he's right about the longer-term consequences of the COVID-19 lockdown.  Corporations' upcoming quarterly reports for the next year at least are not likely to be looking too rosy.  It's amazing to me that the stock market is still flying high--though I realize that's probably the result of low interest rates and stimulus/unemployment money.  That can't last forever, though.

This analysis is a big blow to Trump

Fuck Trump and the blow to him.  May it blow that fucking orange wig all the way down Pennsylvania Ave NW on its way to getting stuck in a cherry blossom tree.

The U.S. election is in November, that's about three months to go, there is no way Trumps government can revive the economy in such a short period of time

Oh hell no, he won't be able to do anything in that time frame--but no doubt he'll tell the voters all the things he's going to do (but never will) in his re-election campaign.  

Stock market is flying high right now due to a massive amount of FED money coming into the economy, pretty much directly bailing out struggling companies through buying their bond offerings that people wouldn't have bought due to their situation. The stock market is also forward looking, a lot of information is 'priced in' meaning that people have already accepted the effects of Corona but how while the next few years look?

You have that money, then you have congressional money that came in from awhile ago, market will probably go even higher if the Congress decides on MORE money for companies (and maybe even some legislation giving them protection from being sued)

Big Blow to Trump? Well, yes. But all he has to do is convince enough of his own base and enough moderates that he is doing every thing he can do to try to save the economy. If he begins to tick up a bit more, maybe some vaccine news comes out, he could easily win. I know people hate him though, nothing wrong with that.

60 or so days until the election, still a LOT of time for things to change.

[el kaka22]

Well obviously, he is not wrong. US economy can't just crash forever without ever recovering, this is probably the biggest power in the world and even though China is stronger economically right now (by basically letting people die from starvation but still growing stronger as a government) we could easily say that USA is still more powerful on world stage (even with Trump).

So, we could easily say that USA will recover economically one day, it may not be tomorrow, it may take until elections because let’s face it companies are hoping for a republican president who will help them over a democrat who will help the workers instead, but as long as this exists, I could say that USA will recover with both of them eventually, may take time depending on some stuff but it definitely will.

[verita1]

The Covid19 pandemic will leave a crisis very different from the one experienced in 2008.
There is a lot of uncertainty and challenges, especially by the American nation, which is the most affected by the highest number of infections and by being a nation with an economy based on exporting advanced technology.

The economic model will have to be restructured to face the economic recession and get ahead with the great challenges it faces. Job creation is a priority.

The best hope is the vaccine against covid19. Fortunately there are tentative dates for the end of this year.

[ultrloa]

The Covid19 pandemic will leave a crisis very different from the one experienced in 2008.
There is a lot of uncertainty and challenges, especially by the American nation, which is the most affected by the highest number of infections and by being a nation with an economy based on exporting advanced technology.

Total different since eventhough the crisis hit before but still the businesses are still running that's why its easy for them to recover fast, but situation by now is so different since there's a threat everywhere and the companies can't run their full operation due to the virus.

The best hope is the vaccine against covid19. Fortunately there are tentative dates for the end of this year.

I don't think the vaccine will be available on the end of this year since the phase 3 of potential vaccine is ongoing and it was said that they can mass produce by next year once it is successfully tested and pass the phase 3 trials.

[Shasha80]

It is very interesting to see the development of the US economy facing the US elections which will occur in a few months.
Trump will do his best to make the US economy rise again, even though it is very difficult in a short time to make the US
economy recover. Because the COVID-19 pandemic situation that has not improved is the reason why the US economy is
difficult to recover. But Trump's decision in the near future this can certainly be taken into consideration for voters.

[Ayiranorea]

Even if there is no signs of recovery, they'll create drama that the economy have got recovered hiding everything to the outer world. Surely this will happen, because just to show them as the grown country the suffering and the poverty prevailing is completely hidden from the outer world. People always have a thinking USA is rich and doesn't have a single poor person or suffering for basic needs. The truth hurts.

[carlisle1]

Even if there is no signs of recovery, they'll create drama that the economy have got recovered hiding everything to the outer world. Surely this will happen, because just to show them as the grown country the suffering and the poverty prevailing is completely hidden from the outer world. People always have a thinking USA is rich and doesn't have a single poor person or suffering for basic needs. The truth hurts.

I think this is not hidden mate because the whole world Knows how US is suffering from falling economy for how many years now,and even before
trump their country is not in good shape and this is what they must accept instead of hiding and portraying still the strongest country but they are not.

What happens in these few months will not have anything to do with whether Trump will be elected or not, and moreover this is something that is quite out of his control. There will be a growth, but it’s not going to happen in a flash, it’s going to take some time before things gets back on normal ground.

Well what can we expect from this world now?
trump may win or not but still US is not going any good in the next years,they will still struggle until they admit that world is changing and not every time is they are the most and best of all.

The main question people will be asking is how much he has been able to push their economy in the past years before now, and then there are also other things that will go into consideration. I don’t live there, but from what I have heard he helped to raise to raise the economy when he was elected as the president, but people still have so much hatred for him which I think has to do with other things.

Every president claims this and all Their associate but the truth is does the people really feels that?or is the government really moving forward?
things that must be consider before believing what once said.

[beerlover]

USA has been in a downward spiral since Trump get to power, they have been getting worse and worse with all the tax breaks to rich and not paying their fair share and basically all around a land where you are either rich or you are not cared about.

If you are making more than a million dollars a year, USA is a great country, it is the best country to live in, I would prefer no other nation in the whole world for a rich person. However if you are making under 100k a year (which is really a lot compared to other nations interestingly) you are barely surviving because how everything in the world costs you a ton of money.

At one point someone joked about how you could fly to Spain, get a hip surgery, run with the bulls, get injured, get another hip surgery and fly back to USA and it would be cheaper than having one hip surgery in USA. Think of USA as a rich men world.

[razaabbas]

I think this year is very difficult - maybe outward economic growth, but in the real sense it takes a lot of time because there is an election in November.
On the basis of which it is difficult for the Trump administration to show something to the people, otherwise, it will be very difficult and secondly, if it does not intervene in other countries then America will become too much strong and rich.

[Latviand]

Gov is ready to save companies from bankruptcy but what did it cost? Tons of newly printed money and increased inflation rates

Inflation is an another problem if they will continue to print money.

If governments are not that prepared and they don't planned properly on how they will execute it to help the economy, probably they will have a hard time to make the economy recover. I just don't get it while people are relying on making more money that can increase the demand for people and businesses will be relieved from bankruptcy.

That really costs a lot and they need to consider other factors and results besides this inflation.

[aiguy]

The U.S. economic rebound continues to lumber on thanks to gradually improving consumer demand that remains at risk of becoming tripped up by still-elevated joblessness.While initial jobless claims decreased in the most recent week, they still exceed 1 million on a weekly basis, and consumer sentiment is stuck at depressed levels. The improvement in job openings since the worst of the pandemic is also leveling off. Listings on Indeed.com are down 21% from a year ago after being 18% lower in late-July and early August.

[jaysabi]

I was reading Powell (chairman of the FED) statement on US economy, and he’s used the words like starts and stops for the economy, and for a second I started to wonder did I just open an F1 news report?.

It’s pertinent to focus on his words which clearly mean that we may see some positive movements in the economy, but along with it we should brace ourselves for negative side effects too which shall last way longer than we all had initially hoped for.

Further there’s more bad news for the jobless people as he’s claimed that they’ll not be able to land jobs, and thus they will continue to remain jobless in the long run.

This analysis is a big blow to Trump who’s been banking on economic revival to win the elections, and this will even pose a big challenge for Biden (if he wins the elections) because reviving an economy won’t be that easy, and if he fails to revive it then Democrats will badly lose the next elections.

Sources:

https://www.marketwatch.com/story/powell-says-us-economy-will-continue-to-recover-with-stops-and-starts-2020-08-27

https://www.adn.com/nation-world/2020/06/04/trump-banks-on-the-economy-and-his-reelection-prospects-rebounding-quickly-without-more-government-help/

There was a large scale disruption in the economy and the labor force. The line down is always a a lot smoother than the line up. Nobody should expect the recovery to be as smooth as the decline. Economies don’t work that way. Think of a giant boulder dropped into a pond. The initial wave is big, and each successive wave is smaller. But it moves up and down in smaller waves as it smoother back to equilibrium. The economic recovery will kind of be like that. Two steps forward, one step back. As long as the long term trajectory is still positive, that’s about all we can hope for.

[Rengga Jati]

It seems that the country is fast recovering economic conditions there. moreover, many interests may be needed so that economic conditions there remain stable and crawl up well. This is a big country and has a currency that is the benchmark for most countries in the world.
So, it's no wonder they can recover quickly. However, is it really honest and reliable data?

[Silberman]

USA has been in a downward spiral since Trump get to power, they have been getting worse and worse with all the tax breaks to rich and not paying their fair share and basically all around a land where you are either rich or you are not cared about.

If you are making more than a million dollars a year, USA is a great country, it is the best country to live in, I would prefer no other nation in the whole world for a rich person. However if you are making under 100k a year (which is really a lot compared to other nations interestingly) you are barely surviving because how everything in the world costs you a ton of money.

At one point someone joked about how you could fly to Spain, get a hip surgery, run with the bulls, get injured, get another hip surgery and fly back to USA and it would be cheaper than having one hip surgery in USA. Think of USA as a rich men world.

Many are blaming the pandemic for what it is happening but technically speaking the pandemic is only revealing the weakness and the strengths of each country in particular, for those that are super rich things seem to be perfect but for everyone that does not fit that definition they are struggling to make their dreams come true, and this has being going on way before Trump got in power and for what I can see it does not seem to be a way to change this tendency anytime soon.