'It won't be May': JPMorgan CEO Jamie Dimon doesn't expect the economy to reopen until at least June

• JPMorgan Chase CEO Jamie Dimon said on Tuesday that it's unlikely the economy will be open by May.
• "It won't be May," he said on an earnings call. "You talk about June, July, August, something like that."
• Dimon said in his letter to shareholders earlier this month that there should be plans to "carefully" return people to work when the time is right.
• President Donald Trump said on Monday that he has "total" authority over when to open the economy, though governors have announced plans to coordinate when restrictions on businesses will be lifted.
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JPMorgan Chase CEO Jamie Dimon said on Tuesday that it's unlikely the economy will reopen by May.

"Hopefully it will be sooner than later, but it won't be May," Dimon said on an earnings call. "You talk about June, July, August, something like that," he said.

Dimon also said that we shouldn't think of reopening the economy "as a binary thing," as many people in farms, retail, pharmacies, and hospitals are still working.

In an annual letter to shareholders earlier this month, Dimon said that there should be a plan to "carefully" return people to work, and that widespread testing should be included.

President Donald Trump said on Monday that he has "total" authority over when the economy will be reopened. He had planned to lift restrictions by Easter, but later extended social-distancing guidelines until the end of April.

Some states have pushed their restrictions or stay-at-home orders until May. New York Gov. Andrew Cuomo announced on Monday a coalition of East Coast states to coordinate the reopening of the economy in that region.

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