Experts Worried About Double-Dip Recession

Experts Worried About Double-Dip Recession

( – Despite fears of a complete economic meltdown after the onset of the COVID-19 pandemic, America has fared better than most other countries in this regard. Unemployment levels have continued to drop since peaking earlier in the year, and our stock market is doing well.

Unfortunately, experts are unsure about whether this trend will last. As the levels of COVID-19 across the country begin to rise again, economists are speculating that movement restrictions and a loss of consumer confidence could take a considerable toll.

On Friday, November 13, Celine Gounder, Joe Biden’s advisor on COVID-19, spoke with CNBC. She stated that a potential Biden administration would pursue a policy of targeted local lockdowns. Experts have noted that Biden would be much more open to imposing movement restrictions than Trump.

Political change will make our economic situation more difficult to manage. Donald Trump did an excellent job of reinvigorating business across the country, along with the Republican majority in the Senate. However, under a potential Joe Biden presidency and Democratic majority in both houses of Congress, rapid economic deterioration is entirely possible.

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