Coronavirus Live Updates: Virus Resurgence Threatens U.S. Economy
In the U.S., renewed lockdowns, closed schools and uncertain federal support cloud hopes of a rapid rebound.
The United States economy is headed for a tumultuous autumn, with the threat of closed schools, renewed government lockdowns, empty stadiums and an uncertain amount of federal support for businesses and unemployed workers all clouding hopes for a rapid rebound from recession.
For months, the prevailing wisdom among investors, Trump administration officials and many economic forecasters was that, after plunging into recession this spring, the country’s economy would accelerate in late summer and take off in the fall as the virus receded.
But failure to suppress a resurgence of confirmed infections is threatening to choke the recovery and push the country back into a recessionary…