Sizing Up Economic Prospects
Published Friday, October 23, 2020, 10:30 p.m. EST
The shape of the economic recovery is coming into clearer focus. Yes, the United States has had a "V-shaped" recovery from the onset of the Covid outbreak in January. However, the right side of the "V" is weakening. A return to the level of prosperity of late 2019 is about 18 months away, while a recovery to the full potential of the U.S. -- in which the unemployment rate drops to 3.5% again -- is at least several years away.
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