When the U.S. economy reopens, the American public needs to be prepared to keep it open despite the potential for a lingering coronavirus pandemic, Ed Rendell, a former Pennsylvania governor and Philadelphia mayor, told CNBC's Scott Wapner in a Tuesday interview.
Rendell Says There's No Magic Button
There is no "magic button" anyone can push for the economy to magically return to its prior stage, Rendell said.
A more realistic scenario is a gradual reopening of the economy, and areas with more dense and spread out populations are more likely to open first, Rendell said.
Cities like New York or San Francisco will be among the last to open, he said.
If Rendell was still the governor and faced with the decision of reopening the Pennsylvania economy, he said he wouldn't make any decision on a "leap of faith."
Public Safety Comes First
The safety of the American people is the most important factor in reigniting the economy, Rendell said. If the economy opens too soon and there is an unfortunate outbreak, he said it would deliver a "damaging blow to the economy."
"When we open we better be prepared to stay open and gradually build up."
Given the choice of public safety or re-building the economy, the obvious choice of public safety and avoiding death has priority, the longtime Pennsylvania politician said.
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