Tuesday, Jul 27

US National Bank urges decision-makers on stability

We'll bring people back after we know it's going to be stable, bank CEO said.
16.04.2020 - 14:47

One of the national banks in the US has urged US decision-makers to reopen the country's economy once businesses are confident of a "stable" return to work amid the novel coronavirus pandemic.

TRUMP HAS BEEN PUSHING COUNTRY TO PREPARE PLANS TO REOPEN

"We'll bring people back -- first, when we're allowed to -- but we'll also bring people back on a view that we don't want to the change course of action until we know it's going to be stable," Bank of America CEO Brian Moynihan said on a press call, cited by Politico on Wednesday.

"Once we got the people here, we actually have the luxury to hold off longer," Moynihan added.

US President Donald Trump has recently been pushing country to prepare plans to reopen portions of the economy, declaring his "total" authority on the matter.

However, Trump also said on Monday that he would prefer to work with states on the issue of reopening.