Economist says U.S. economy will fully recover this month | Tim Talk | Tim Hunt
Christopher Thornberg presented his annual economic update to the East Bay Economic Development Alliance Wednesday and stressed how different the pandemic-induced recession is from the Great Recession.
He said that he predicted a V-shaped recovery last May in his annual update and that’s occurred with the exception that it was slowed by the second surge of the virus last winter. The bottom line is that the recession ended in April and the economy will be back to pre-pandemic levels by the end of the current quarter (six quarters compared with nine years for the Great Recession). That testified to the steady growth the United States has been seeing under the President Trump policies—the economy did not have the underlying issues that bit us in 2007-2009.
He also cited history shows that natural disasters do not have long term consequences for the economy as opposed to the…