Trump, GOP leaders bet on reopening over stimulus for recovery
WASHINGTON — President Donald Trump and Republican congressional leaders are counting on state lockdowns lifting to propel an economic rebound that will ease pressure for another round of stimulus.
“There is only one way out of this dilemma: America has to grow again, to open up again and I am pleased that is beginning to happen in my state and other states,” Majority Leader Mitch McConnell of Kentucky said at the Capitol after Trump had a lunch meeting with GOP senators.
Trump, who has been urging governors to lift restrictions on businesses, said he expects “a really great third quarter” for the U.S. economy, even though Federal Reserve Chairman Jerome Powell reiterated Tuesday that a full recovery may take until the end of 2021.
Republicans are putting up a unified front on holding off on another round of stimulus even as every economic indicator is showing historic declines. That’s put them in an election-year stalemate with Democrats, who last week pushed through the House a $3 trillion virus relief package that the GOP has rejected.
The lunch session with Trump followed a morning meeting in McConnell’s office at the Capitol with Vice President Mike Pence, Treasury Secretary Steven Mnuchin and House GOP leader Kevin McCarthy.
