Scott Horsley, National Economic Council, NPR discussed on All Things Considered
The National Economic Council and Special assistant to President Trump and NPR's Scott Horsley is still with us. Scott What stood out to you from what we just heard from from California? Well, Mr Pneumonia is right that we did see a rebound in the economy. Mork quickly than a lot of forecasters were expected expecting. We saw job gains in May that a lot of folks didn't think we would see until June because, frankly, the economy did reopen. More quickly than a lot of people expected. We may, however, be seeing the the ill side effects of that with the surge in Corona virus cases, and as we've said many times, we are not going to get a sustainable economic recovery in this country. Until we get a until we're able to get a handle on this virus. And while some of the economic indicators have been better than some forecasters thought, I think that health metrics has certainly been far worse than most of us fears. And so as we move into late summer and early fall, what economic numbers are you going to be watching to see if there are signs of the US pulling its way out of this historic economic tailspin? We are certainly going to be watching those July spending numbers that Mr Lorna mentioned. I think those air out later this week will also of course, continue to watch. As we always do. Job gains. The job gains in July were much lower than they had been in June. And we'll we'll we'll see where that Tran goes. And then we'll also be watching for, you know measures of economic hardship. We do have more than 30 million people collecting unemployment benefits right now In this country, those benefits have shrunk a lot in the last couple weeks, they might get a little boost of the president's action. Over the weekend, but we'll be watching for signs of distress. Whether it's evictions or late rent payments, Missed car payments, Miss credit card payments, that sort of thing. What is NPR chief economics correspondent Scott Horsley. Thanks as always, good to be with your.