Bank of America says coronavirus has already pushed the US into recession
"Jobs will be lost, wealth will be destroyed and confidence depressed," Meyer said. "The salvation will come if there is a targeted and aggressive policy response to offset the loss of economic activity and ensure a sound financial system.
Industries such as leisure, hospitality, and retail will likely be hit the hardest, as they have the largest shares of hourly workers who struggle to work from home, according to the note.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Market collapse leaves the best opportunity to pick stocks 'maybe ever,' Bank of America saysNew for subscribers: Market collapse leaves the best opportunity to pick stocks 'maybe ever,' Bank of America says Check out CNBCPro and get your first 30 days free.
Baca lebih lajut »
These chip stocks should recover the fastest, Bank of America saysNew for subscribers: These chip stocks should recover the fastest, Bank of America says Check out CNBCPro and get your first 30 days free.
Baca lebih lajut »
Tech supply-chain expert: Asian companies are worred about US demand - Business Insider'Everybody's holding their breath': Coronavirus concerns about the global tech supply chain have reversed — with recovering Asian suppliers now worried about US demand
Baca lebih lajut »
Coronavirus: US needs aviation task force to rescue airlines, Boeing - Business InsiderDuring the financial crisis, the Obama administration formed an Auto Task Force to manage the orderly reorganization of General Motors and Chrysler.
Baca lebih lajut »
Coronavirus school closures would cost US economy $51 billion a month - Business InsiderSchools across the country are shutting down to stem the outbreak of the novel coronavirus — and those decisions are costly.
Baca lebih lajut »
Why coronavirus fallout will accelerate cord-cutting in US - Business InsiderThe rate of US cord-cutting is likely to accelerate due to the impacts of coronavirus on live sports programming and household discretionary spend.
Baca lebih lajut »