But there are massive risks involved
with quickly reversing the social distancing policies. Not only would a
premature re-opening of the economy defy the advice of health experts,
but economists warn it would backfire.
Instead of a one-time blow, the economy could face repeated shutdowns over a prolonged period.
"If the president decides to go 180 on
us and open by Easter, that will create chaos and confusion. That is the
prescription for a depression," Mark Zandi, chief economist at Moody's
Analytics, told CNN Business.
"If people are panicked because
hospitals are overflowing and loved ones are dying, the hit to the
economy will be even worse than if we remain in lockdown," said Zandi,
who advised Republican presidential nominee John McCain in 2008. "It's a
massive gamble -- and one without science on his side."
No comments:
Post a Comment
ANONYMOUS COMMENTS WILL NOT BE POSTED!
please use either your real name or a pseudonym.