Maybe I’m getting ahead of myself but there is no doubt that American optimism is beginning to bubble under the surface. We’ve got a new president, we’re jabbing every American in the arm, and forecasts say the economy will be on fire starting this summer. Things are looking up and people around the world itching to be anywhere but their own living rooms are once again thinking about heading to the States.
Team Blue has other ideas about immigration
There’s no doubt that positive feelings from both inside and outside the US are starting to return. Donald Trump is back to doing what he does best – developing real estate – and the US has a “new” president who has been around Washington for decades.
The American media, as we have all learned the hard way in the last year, rules the world, and now that someone from their “team” is in charge, they can finally take their foot off the gas and start writing more mellow, feel-good stories. This is positive for everyone, particularly those who are interested in moving to the US. The president seems to want to move things forward in the economy and is making it a priority.
The new president also has a new immigration agenda and will focus on expanding US immigration in the coming months. That said, the United States has always loved investors regardless of who’s in charge, which is probably why policy toward the E2 visa didn’t change much under the Trump administration. The thought, however, of a welcoming government does put many people’s minds at ease and may encourage those who were on the fence before to go ahead and apply.
What the world has awaited is finally here and, as of this writing, more people in the US have received at least one shot than have ever tested positive for the virus. This is a heartening trend, and it’s getting better every day. Although the vaccine has rolled out more slowly than everyone wanted, it’s starting to pick up steam; and the president has vowed that we will have 150 million shots in 100 days. He has ordered millions more vaccines and has enacted the Defense Production Act to get the job done efficiently.
The private sector is chipping in as well. On President Biden’s first day in office, Amazon pledged to help with vaccine logistics. States have started giving the private sector a shot at helping with distribution, which should further expedite matters.
Finally, Johnson & Johnson will reportedly ask the FDA ask for emergency approval later this week. If green-lit, this vaccine should have a transformative effect on the battle against COVID; it only requires one dose. The company has pledged 100 million shots by June after securing FDA approval.
Back in business
All this good news is beginning to have a buoyant effect on the economy. The Congressional Budget Office, a non-partisan agency that analyzes budgetary and economic issues, said in its most recent report that it expects real (inflation-adjusted) GDP to return to its pre-pandemic level in mid-2021. That sanguine outlook is, no doubt, welcome news to those hoping to invest in the country.
The US economy is based largely on consumer spending, which forecasters say will increase as states begin to lift restrictions on restaurants, travel, and entertainment. Judging by current vaccination progress, we should start to enter a time of pre-pandemic “normalcy” by summer. Several economists have surmised that the relaxation of pandemic controls will drive a period of increased spending, as Americans catch up on some of the consumption they had to forego in 2020. Some are even proclaiming that a new “Roaring Twenties” period is due this year.
For immigrant entrepreneurs hoping to start any type of business in the US, especially in manufacturing and production, the next two years are looking auspicious.
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