Why Bill Gates believes schools will reopen in the fall, economy will restart in May 2020

Billionaire philanthropist Bill Gates is hopeful education can return before a coronavirus vaccine is widely available, which he expects could take 18 months. He said the earliest the U.S. could reopen is the end of May, but cautioned the pandemic has permanently changed how people act, and it will take a vaccine or effective cure to make people confident enough to go out again.

Billionaire philanthropist Bill Gates told CNBC he thinks schools will be able to resume in the fall but the U.S. economy won’t magically return to the way it was before the coronavirus pandemic.

Governments around the world have ordered people to stay home, and elected officials in Arizona, California, Georgia, Michigan, Washington and other states have closed schools for the rest of the academic year.

“I do think school will be able to resume in the fall,” Gates said in an interview with Becky Quick that aired on “Squawk Box” on Thursday. “But I don’t think this school year there’s going to be any significant attendance. You know, maybe in the summer, people will do something special. But that would be very hard to do.”

Some schools have made it possible for students to take classes remotely over the internet, but the Microsoft co-founder noted that many students don’t have the computers or internet connections necessary for remote learning.

“Most of the private schools, they’re used to online, they’ve made sure all their students have the device and the connectivity,” he added. “Different school districts have decided some don’t do online learning because it would be unjust in terms of the kids who don’t have access. And so that’s really a dilemma. There are philanthropists — Ray Dalio, Jeff Bezos and many others — who are trying to fill that gap, you know, get some devices and connectivity out there.”

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