NOURNEWS- Mark Zandi, a senior economist at Moody's Financial Services Analysis Company, warned US governors seeking to reopen their state-owned businesses in an interview with CIA.
"If we have a second wave of coronavirus, we will definitely see a recession," he said. We will probably not announce a shutdown again, but without a doubt, Corona's second wave will terrify people and put a lot of pressure on the economy.
Mark Zandi refers to a 12-month or longer recession in which the United States will have a double-digit unemployment rate.
The economist's remarks came hours after the US Department of Labor reported a 14.7 percent drop in the unemployment rate in April, a double-digit increase in the U.S. unemployment rate as the figure rose. March was 4.4 percent.
According to the New York Times, as of Monday, only 15 U.S. states remain closed or have complied with restrictions on the coronavirus and complied with the order to stay at home. Thirty-five other states have either been reopened to a limited extent or have announced plans to reopen in the coming weeks.
The White House's guidelines for reopening the United States require states to meet a number of criteria, including the downgrade of flu-like illnesses and the decline in the incidence of coronavirus over a 14-day period.
U.S. public health officials oppose a broad, global approach to reopening all states altogether, as the state of the coronavirus varies from city to city and city to city.
Mark Zandi also stressed that if there is no second wave of coronavirus, businesses will begin to recover and return to their previous state from the official "Memorial Day" holiday, which begins May 23. Markets will soon see growth throughout the summer and early fall, if there is no second wave of coronavirus.
He added: "I think then we will be in a dangerous and difficult situation because we don't have much information about the coronavirus and its impact on customers and businesses." In any case, the outcome of the coronavirus vaccine is very important.
ISNA
NOURNEWS