Rex Nutting
Rex Nutting
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‘The 25-cent solution’ would have prevented the COVID recession, says the most accurate forecaster

‘The 25-cent solution’ would have prevented the COVID recession, says the most accurate forecaster

The U.S. economy never would have entered a recession at all this year if we’d only adopted what he calls the “25-cent solution,” says Brian Bethune, a teacher of economics at Tufts University and Boston College who won the Forecaster of the Month contest for September.What’s the 25-cent solution? “Everyone wears a mask,” he says. “Everyone wears it wherever they go outside. If we had applied the 25-cent solution, we never would have had a recession.” “But we can’t seem to get there,” he says mournfully.China did it Look at China, he says. Once they recognized the magnitude of the...

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Rex Nutting
Oct 12
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Fed warns stock market of a second recession if the coronavirus pandemic isn’t brought under control

Fed warns stock market of a second recession if the coronavirus pandemic isn’t brought under control

The Federal Reserve is a lot more worried about the economy than the stock market or the president are. Officials and staff economists at the Fed caution that a second wave of recession could sweep over the country later this year if the coronavirus pandemic isn’t brought under control, according to held on June 9-10.calls for a gradual recovery in the economy over the next several years, but indicate that a more pessimistic projection was judged as “no less plausible than the baseline forecast,” by the staff economists who work up the most detailed (but classified) forecast of the...

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Rex Nutting
Jul 1
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The coronavirus-led economic recession may be over, but the depression has barely begun

The coronavirus-led economic recession may be over, but the depression has barely begun

Now that businesses are reopening and calling back furloughed workers, the COVID-19 recession may . The depression has barely begun.The economy is growing again, but, with 2 million people filing for unemployment checks last week and about , it’s still struggling mightily.There’s no official definition of a depression. Still, today’s economy seems to be a close fit: Millions of workers are losing their jobs permanently. or operating at only a fraction of profitable levels. Debts are mounting, and incomes are not growing fast enough. State and local governments are slashing jobs and...

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Rex Nutting
Jun 27
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