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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