The fallout from coronavirus could help undermine Reagan-era principles and renew a sense of national interdependence
Does the huge surge in US unemployment claims announced on Thursday mean that we are doomed to endure the 30% unemployment of which the Federal Reserve Bank of St Louis has warned?
The answer is no. How high unemployment rises will depend on how quickly we ramp up testing and the provision of protective equipment, enabling us to determine when and where it is safe to return to work.
Source: Will sky-high unemployment lead to authoritarianism or progress? | Barry Eichengreen
Category: Coronavirus outbreak, Donald Trump, US news, US economy, Global economy
