July 19, 2021
LOCKDOWN WORKS:
It's official: The Covid recession lasted just two months, the shortest in U.S. history (Jeff Cox, 7/19/21, CNBC)
Though the drop featured a staggering 31.4% GDP plunge in the second quarter of the pandemic-scarred year, it also saw a massive snapback the following period, with previously unheard of policy stimulus boosting output by 33.4%.
Two months does not a recession make.
Posted by Orrin Judd at July 19, 2021 6:25 PM