Fed officials are hanging up hopes for a V-shaped economy recovery, warning that the U.S. economy is at risk of suffering damage that could make for a bumpy road in the short to medium-term.
Federal Reserve officials are hanging up hopes for a V-shaped economy recovery, warning that the U.S. economy is at risk of suffering damage that could make for a bumpy road in the short to medium-term.
“The net effect, I believe, will be for aggregate demand to decline relative to aggregate supply, both in the near term and over the medium term,” Clarida said. With social distancing measures likely to be enforced well after shelter-in-place measures are lifted across the country, the absence of a vaccine may keep restaurants, bars, and planes from returning to normal crowds.
Business owners like Boston-based Joanne Chang said sales have been down about 75% to 80% and worries that to keep workers reasonably spaced from one another, she won’t be able to restaff all of the workers that she had to furlough.
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