Expert: Economic recovery depends on fighting COVID-19

Prospects for economic recovery in the United States depend on how effectively the country can combat COVID-19, economist Narayana Kocherlakota argues.

With unemployment between 13 and 14% and the stock market swinging up and down in part based on optimism that the worst of the pandemic is behind us, Kocherlakota’s message is simple.

“If people are worried about the disease, they’re less likely to get a haircut or go to a restaurant. So the disease operates as a drag on the economy,” says Kocherlakota, professor of economics at the University of Rochester and a former president of the Federal Reserve Bank of Minneapolis.

“The better we do on public health, the better the economy will do.”

Here, Kocherlakota, offers his view on economic recovery from the COVID-19 pandemic:

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