Bank of America says coronavirus has already pushed the US into recession
"Jobs will be lost, wealth will be destroyed and confidence depressed," Meyer said. "The salvation will come if there is a targeted and aggressive policy response to offset the loss of economic activity and ensure a sound financial system.
Industries such as leisure, hospitality, and retail will likely be hit the hardest, as they have the largest shares of hourly workers who struggle to work from home, according to the note.
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