Why the U.S. Economy May Never Be the Same Again After Coronavirus | Analysis

Photo caption: White House economic advisor Kevin Hassett… in 2019. […] Chip Somodevilla/Getty Images. Article by Sam Hill, Newsweek.

It’s been a crazy couple of weeks in the pandemic economic prediction business.

So crazy that even the White House can’t get its stories straight. In one corner President Trump’s advisor/son-in-law Jared Kushner and U.S. Treasury Secretary Steven Mnuchin told us that happy days will be here again—and the country “rocking” by July. In the other, former White House Council of Economic Advisors chair Kevin Hassett and now White House consultant called the economic situation “grave.” (Granted, he was quickly told to knock off the “gloom and doom” by his colleague, Peter Navarro.)

But be wary of those rosy forecasts put out by market analysts and the White House. It’s going to take a while. Exactly how long depends on science, not politics, as Warren Buffett said April 2 at Berkshire Hathaway’s annual meeting. […]

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