Positive news is scarce these days. In this clip ECRI’s Achuthan updates on what their economic models are seeing in the present recession and suggests that it might end faster than average, and be followed by an ‘arduous recovery’. An ‘arduous’ recovery may not feel much better than the recession though.
Economic forecaster Lakshman Achuthan warns the coronavirus pandemic is hitting the U.S. economy harder than the financial crisis. “This is a brutal recession… extraordinarily deep. Already, you’ve got 22 million people filing for jobless claims compared to 8.7 million jobs lost during the Great Recession.
“This recession could end up being among the shortest on record,” he said. “Just a partial re-opening of the economy would lift activity off the extreme lows.” Here is a direct video link.
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