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President Trump said the decision about when to reopen the US economy that has been ravaged by the coronavirus pandemic will be made based on “facts” and “instinct.”

“A lot of very smart people, a lot of professionals, doctors and business leaders are a lot of things that go into a decision like that,” Trump said on Fox News’ “Justice with Judge Jeanine” Saturday evening. “And it’s going to be based on a lot of facts and a lot of instinct also. Whether we like it or not, there is a certain instinct to it.”

He said his administration is putting together a council of “some of the most distinguished leaders in virtually every field” and “we’ll be making that decision fairly soon.”

Trump also acknowledged that it would be the “toughest decision that I ever made and hopefully the most difficult I will ever have to make.”

In the past three weeks, nearly 17 million Americans have been laid off or furloughed as states imposed stay-at-home and social distancing guidelines and banned non-essential travel.

The US has more than 530,000 coronavirus cases and the death toll has surpassed 20,000.

The president said he will rebuild the economy to honor those who died.

“We’re going to rebuild it again in honor of all those who perished today,” Trump said.

The president predicted the economy will rebound like a “rocket ship,” citing the $2.2 trillion stimulus plan passed by Congress and Americans’ desire to return to work.

“And I think the stimulus, coupled with this pent-up demand and everybody wanting to get out and go back to work,” Trump said. “I think we’re going to have just a tremendous surge.”

Trump has hoped to reopen the economy by Easter Sunday but extended federal social distancing guidelines until April 30.

At the White House coronavirus briefing on Friday, the president said he would follow the advice from his health experts.

“We’re not doing anything until we know that this country is going to be healthy. We don’t want to go back and start doing it over again,” Trump said.