Pandemic threatens to crush dollar & plunge US economy into double-dip recession, top economist warns ...News

Russia Today - Economy
Pandemic threatens to crush dollar & plunge US economy into double-dip recession, top economist warns
source : Russia Today ( News ) () 22
While vaccine hopes are driving markets higher to book historically strong gains, the US economy is still in a vulnerable position, according to former Morgan Stanley chief economist Stephen Roach. Roach believes the soaring number of coronavirus infections will cause further lockdowns. While new restrictions are likely to be less severe than they were in March and April, the consequences will definitely affect the whole US economy. “That’ll lead to a temporary relapse in the economy, probably in the first quarter,” Roach told CNBC. He added that those relapses had occurred in eight of the past 11 business cycles, and warned, “I don’t

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