Charlotte Talks: How Much Worse Can It Get Before It Gets Better? An Economic Checkup.
Wednesday, May 20, 2020
We get a checkup on the economy. How much grimmer might things get before we start bouncing back?
The steps we’ve taken to avoid a health care crisis seem to be working, but they’ve also thrown the economy into a tailspin. A few months ago, our national and local economies were in tip-top shape. Now, things look grim.
Unemployment has soared to the highest rate since the Great Depression and threatens to get worse. Retail sales numbers have crashed, and small businesses are hanging on by a thread or going out of business. We are in a recession. How do we avoid a depression?
We hear from two economists and from the economic correspondent for The Washington Post to get their thoughts on what the path to recovery looks like and how long it might take.
John Connaughton, Barings Professor of Financial Economics and Director of the Barings/UNC Charlotte Economic Forecast.
Mark Vitner, Senior Economist at Wells Fargo
Heather Long, Economics correspondent at the Washington Post