I'm from a rural market and we're definitely seeing signs of resurgence in the local economy. In my opinion, we've seen a change in the facts surrounding COVID-19 and its time we see the same change in the narrative being told, such as this WSJ story. The faster the narrative catches up to the new facts on what we now know about the virus the faster the economy will recover. There are clearly signs for optimism but still much is unknown about how our economy is going to get back to the next normal. Mr. Dimon even expressed some optimism for Q3!
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John Tyson
CFO/SVP
Altamaha Bank & Trust Company
Vidalia GA
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Original Message:
Sent: 05-26-2020 10:42
From: Barb Rehm
Subject: Tuesday Topic: Turning the Corner
I was going to write yet another post about the Paycheck Protection Program's many ups and downs, anchored by this Bloomberg story about how banks are bracing for a wave of loan-forgiveness applications. But then I saw The Wall Street Journal headline, "For Economy, Worst of Coronavirus Shutdowns May Be Over," and realized how ready I am for some good news. Maybe you are, too. Among the bright signs: a rise in trucking loads, mortgage applications, hotel and restaurant bookings, and new business applications. "If this is the only wave [of coronavirus], it looks like we've bottomed out and the normalization process has begun," Beth Ann Bovino, U.S. Chief Economist at S&P Global Ratings, told the newspaper. Are you seeing any signs of economic resurgence in your markets?
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Barb Rehm
Senior Managing Director
Promontory Interfinancial Network, LLC
Arlington VA
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