The rebound tells us two things:
(1) getting money to people helped bolster the economy and preserve employment relations
(2) when people feel safe they will resume many of their old spending patterns

What does this mean for the future [1/x]

The first is that we should worry less about disincentive effects of UI & deficits when we are fighting a deep recession. Getting lots of money out the door works in both reducing misery and helping a quick rebound. [2/x]

The second is job growth may contract for July or August as fear builds with our high case rates. But pushing the economy open & risking lives isn't necessary to help the economy, we will rebound quickly if we can contain the virus & support businesses & workers financially [3/x]

We need to renew focus on containing COVID, supporting families, and realize that we can successfully put the economy on pause. [4/x]

However, there will be some major changes coming out of all of this. People will change how they travel, how they work & shop, & the precautions they take. Workers will need training, buildings need to be structurally changed. It's not time for Congress to sit back & relax. [5/x]