Economists think coronavirus could push unemployment above Great Depression levels. Here's why the pain won't be as prolonged this time.
. Legislators "have the power to make this recession one of the briefest" through stimulus targeted at the most battered areas, she added.
The threat is "easy to solve," Shierholz said, as "Congress could, in 10 minutes, write legislation to do that."Krugman echoed Shierholz's call, telling Business Insider that the "" states' budgets represent must be addressed in a new stimulus bill. State budget risks will persist months after the pandemic abates and they remain the next battlefield for a swift economic rebound, he added.
"Rising jobless numbers suggest that productive capacity is being eroded, so when self-isolation measures are eventually lifted, economic activity will take that much longer to get back on its feet," the strategist said in an email to Business Insider. "The chances of a V-shape economic recovery are fading."Stocks are technically back in a bull market, but Wall Street experts don't trust it.
A soaring economic rebound in the US has "a very low probability" due to the country being "a little late to the game with the testing case," Jack Janasiewicz, senior vice president at Natixis Advisors, said in an interview with Business Insider.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Why Wine Remains a Great ConnectorOur wine columnist asked neighbors and friends what they’re uncorking now, revealing how wine provides a vital link to friends and places far away.
Consulte Mais informação »
Why cruise lines will be loser in $500 billion corporate bailout program for coronavirus - Business InsiderThe largest cruise lines are incorporated outside the US. That means they won't be able to get a cut of the bailout money under Trump's stimulus law.
Consulte Mais informação »
Why coronavirus stock market crash is historic, has further to go: Raoul Pal - Business Insider'The whole world's f---ed': A former Goldman Sachs hedge fund chief says coronavirus fallout will cause the 'largest insolvency event in all history' — and warns of another 20% plunge in stocks
Consulte Mais informação »
Column: Could unemployment reach Great Depression levels? Yes, but ...Without minimizing the scale of the economic plunge, it's proper to place comparisons between today's figures and economic situation and those of the Depression in perspective. In short: The differences are greater than the similarities.
Consulte Mais informação »