“As businesses begin to open, you’re going to see the demand side of the economy rebound,” says Treasury Secretary Steve Mnucin. But Kevin Hassett, advisor to Pres. Trump, doesn’t expect a V-shaped recovery. The economic impact of the coronavirus lockdowns have been felt around the world, and the US is no exception.
The more successful the containment policies are, and the flatter the infection curve is, the deeper the economic recession becomes. The positive note: there may even be long-term benefits from the lifestyle changes brought on by the coronavirus pandemic which are bound to generate innovation and productivity increases; they will be there long after the crisis has passed.