Posted: 2020-06-25 21:31:37
Economic Outlook: The Gathering Storm
The economy is going to be hit hard, regardless of forced closures.
From Calculated Risk at Calculated Risk
Originally published 2020-06-25
It doesn't take an official lockdown to push local economies back into recession - many people will pull back as the number of cases and hospitalizations rise. Based on recent hospitalization data, I expect further layoffs in some states like Arizona, Texas, and Florida.
I hope I'm wrong on the virus, but if I'm correct, then I expect every major economic forecast will be revised down for the 2nd half of 2020 and for early 2021.
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