El-Erian on the economy and coronavirus: It will be depend on whether people modify behavior скачать в хорошем качестве

El-Erian on the economy and coronavirus: It will be depend on whether people modify behavior

Mohamed El-Erian, chief economic adviser at Allianz, told Yahoo Finance’s On the Move Thursday that the recent economic data including second-quarter GDP and new data on weekly unemployment claims points to a “square-root” shaped recovery, with some leveling off now under way. “It is the square-root recovery in the sense that we came down very sharply, we saw that in today’s 32.9% annualized contraction in GDP that you mentioned,” El-Erian said. “We came back strongly initially — we saw that in last month’s jobs report and the initial improvement in jobless claims, and now we’re getting the leveling off.” “And that is of worry because not only do we have to deal with the damage that has been created to the economy, but also unfortunately we now become much more sensitive to any policy slippage,” El-Erian said. And I say that because …we also have continued disagreement on Capitol Hill as to what to do next with the relief package. “ #coronavirus #COVID19 #economicrecovery Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Connect with Yahoo Finance: Get the latest news: https://yhoo.it/2fGu5Bb Find Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq Follow Yahoo Finance on Twitter: http://bit.ly/2LMgloP Follow Yahoo Finance on Instagram: http://bit.ly/2LOpNYz