Whether a V or U-shaped recovery, the economy is already off the bottom

Just about every letter of the alphabet has seemingly been used to characterise the range of possible trajectories for our epidemically bombed-out economy.

 Is it to be a V-shaped contraction and recovery, a U, an L, or even an I, where the economy doesn’t recover at all but continues in freefall?

Jeremy Warner 5 May 2020

Tobins Q och Englunds R