US is risking a second coronavirus wave and a depression, economist Mark Zandi warns (via TradingNation)
"The market is casting a pretty high probability of a V-shaped shaped recovery," said Zandi. "The horizon may be a little short term: Next month, the month after, the month after that."
Zandi predicts jobs will start to rebound by Memorial Day weekend as businesses reopen. If there's no second wave, he estimates the gains will flow through the summer into early fall. "After that, I think we're going to be in quicksand because of the uncertainty around the virus and the impact that it's going to have on consumers and businesses," he added.he told "Trading Nation" the Street was underestimating the damage from a pandemicFor the economy to get back on track, he contends it's necessary to get solid progress on a vaccine.
"It's critical. It's a necessary condition for the economy to fully recover," Zandi said. "We're going to see the market reevaluate things at some point. "
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