The U.S. economy has experienced sudden stops in the past, but nothing like this
The U.S. economy has experienced sudden stops in the past, but nothing like this.
The abrupt disruption to business over the past few days is without precedent. While there have been more jarring hits to the American psyche in the past century—the attack on Pearl Harbor, the assassination of President John F. Kennedy, the Sept. 11 felling of the Twin Towers—nothing has led to such a precipitous drop in everyday commerce quite like the moves people, governments and businesses have taken to counter the spread of the novel coronavirus. A recession is a given.
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