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“Fascinating data released by Apple over the weekend,” Varney said. “Through phone tracking, Apple tells us we are getting out and about. We are beginning to move around again.”
Varney believes Americans will continue this trend in the coming weeks as stay-at-home rules begin to ease in many states.
“For millions of people, the relaxation begins Friday, May 1," Varney said. "And why not? The economy can’t stay shut forever. You can’t ask parents with young children to stray cooped up forever, especially in spring weather. And you can’t dramatically limit personal freedom forever. You have to open up sometime.”
But Varney also noted that safety is still a priority in the “opening up” process.
“It has to be done safely. The risk of a second wave is real,” Varney said. “Just look at Singapore. They loosened up and then had to lock everyone down again when cases spiked. Britain’s Prime Minister, Boris Johnson, returned to work [Monday] after his bout with the virus. He says he understands the urge to get moving again but said ‘contain your enthusiasm.’ He worries about a second wave.”
Varney said there’s no point in opening up a business if the owner can’t convince patrons it’s safe.
“A reopened restaurant serves no purpose if there are no customers,” he said. "This means any opening up should be accompanied by clearly visible safety precautions. You’re running a business? Go out of your way to re-assure everybody that you are going the extra yard to keep those customers coming. And you’re doing whatever you can to reassure your employees too."
As coronavirus restrictions begin to ease and the economy starts to bounce back, Varney said, the U.S. is looking towards the other side.
“We want to see a “V” shaped recovery for the market and the economy," he said. "And we are moving in that direction. There is a pent-up desire to get out in the spring weather, open up that business, make some money, and bring in a paycheck. But as Boris Johnson says, avoid a second wave, ‘contain your impatience.’”