SFLA - A Most Unusual Recession - A Mostly Typical (If Protracted) Recovery

• The initial downturn was unusually swift and deep, as was the initial recovery, but the recovery path is reverting to more typical patterns as the expansion has lost momentum.
• New forecasts from the Congressional Budget Office predict that GDP will return to its pre-pandemic peak by this summer, though jobs won’t regain their former peak for three more years.
• Even after we regain the output and jobs lost during the recession, we will still suffer a deficit relative to what might have occurred absent the pandemic and the ensuing.

For further details see: