On Fox Across America with Jimmy Failla, Council of Economic Advisers Chairman Tyler Goodspeed said while overall GDP numbers are good, states that still have some form of lockdown will continue to struggle.
"So we definitely saw a lot of signs of strength in this report. Consumer spending, which is 70% of the economy, has rebounded quite sharply. We saw particular strength in housing markets. Not only is the housing market basically back above where it was pre-pandemic, but actually by some indications it's the most robust since before 2007. There are still certainly headwinds, particularly in the form of a lot of states not fully reopening. And so there's a lot of heterogeneity, to be honest, across the country where states that have reopened are seeing much, much lower unemployment rates, much stronger, much stronger recovery. And then states that have continued to impose severe lockdown restrictions like California, like New York, still have very, very high unemployment rates. And I think they're going to continue to struggle on their path to recovery."