You’re standing in the back yard, filling up a wading pool for the kids with a garden hose. If you turn the hose off, the pool stops filling. Allow enough time, and the sun evaporates the water. Over the course of the summer, the water slowly dries up, leaving you with an empty pool and unhappy children – unless you turn the hose back on.
Starting in late February, governors across the U.S. turned off (or severely restricted) their economies to try and mitigate the spread of COVID-19.
They first felt the consequences in March, and the negative ripple effects are likely to continue well into 2021. The virus is still circulating at high levels despite 10 months of lockdowns and travel restrictions (some of which are still in place).
Continue reading “The Year Ahead: U.S. Faces Uncertain Economic Future”