COVID-19

Trump’s stock market concern could make dealing with COVID-19 tough

Kai Ryssdal and Marketplace Staff Feb 26, 2020
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Johannes Eisele/AFP via Getty Images
COVID-19

Trump’s stock market concern could make dealing with COVID-19 tough

Kai Ryssdal and Marketplace Staff Feb 26, 2020
Johannes Eisele/AFP via Getty Images
Share Now on:
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For a president that has touted the stock market’s highs as a sign of his own success, the selloff over fears of COVID-19, the disease caused by a member of the coronavirus family, may not be the greatest news.

“That leaves [President Donald Trump] more vulnerable than most presidents would be if we see a continued sell-off,” said Neil Irwin, a senior economics correspondent for the New York Times, in an interview with “Marketplace” host Kai Ryssdal.

In a recent column, Irwin noted that this focus on Wall Street could lead to issues with the president’s leadership when it comes to dealing with a possible pandemic. He compared the administration to a private company.

“Imagine a company. They have a product that gets people sick, and they have to recall it,” Irwin said. “The question is, what do you want the executive team to be spending their time doing? You don’t want them going on TV and yelling about the stock price. What you want is for them to deal with the problem. … That’s what you want with a private company. The same is true with the government.”

Click the audio player above to hear the full interview.

COVID-19 Economy FAQs

Which businesses are allowed to reopen right now? And which businesses are actually doing so?

As a patchwork of states start to reopen, businesses that fall into a gray area are wondering when they can reopen. In many places, salons are still shuttered. Bars are mostly closed, too, although restaurants may be allowed to ramp up, depending on the state. “It’s kind of all over the place,” said Elizabeth Milito of the National Federation of Independent Business.

Will you be able to go on vacation this summer?

There’s no chance that this summer will be a normal season for vacations either in the U.S. or internationally. But that doesn’t mean a trip will be impossible. People will just have to be smart about it. That could mean vacations closer to home, especially with gas prices so low. Air travel will be possible this summer, even if it is a very different experience than usual.

When does the expanded COVID-19 unemployment insurance run out?

The CARES Act, passed by Congress and signed by President Donald Trump in March, authorized extra unemployment payments, increasing the amount of money, and broadening who qualifies. The increased unemployment benefits have an expiration date — an extra $600 per week the act authorized ends on July 31.

You can find answers to more questions here.

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