We’ll only know in hindsight. In mid April, the death toll from COVID-19 continued to mount, post-pandemic unemployment claims passed 26 million, and volatile oil prices roiled the market, raising questions about whether the economy was in even worse shape than it seemed. But hopeful signs also emerged. Boeing Co. announced it would resume production of commercial jets in Washington state. Johnson & Johnson, Procter & Gamble and Costco Wholesale bucked the recent trend of dividend cuts and suspensions by raising their payouts. Countries in Europe began to relax travel restrictions and business closures, and as the rise of new infections started to slow here, states began to unveil their plans for restarting the U.S. economy.
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