The Recovery Will Look Like a Nike Swoosh

UCLA Anderson senior economist David Shulman started his presentation at the UCLA Anderson Forecast June 2020 Economic Outlook with a nursery rhyme: “It will take time for all of the kings horses and all of the kings men to put the economy back together again.” The economy, according to Shulman, has had a great fall and many parts of it are broken.

“Our view is that this is not going to be a V-shaped recovery. It is going to take time to get back to where the economy was in the fourth quarter of 2019 in terms of GDP and unemployment,” said Shulman in the virtual event. “The economy has had a very big fall, and a lot of things in the economy have been broken. Even if we got a vaccine, the recovery will not happen right away.”