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Fishkind Conversations: Economy In Freefall

Image by Mediamodifier, from Pixabay
Image by Mediamodifier, from Pixabay

Economic analyst Hank Fishkind says the national, state and local economies are in freefall due to the pandemic.

He tells 90.7's Nicole Creston that it's likely to be a sharp- but short- recession.

"This is a unique recession," he says.

"It's the first one ever to erupt from a downturn in services."

Fishkind says "massive and timely" government intervention at the federal, state and local level has prevented a banking and financial collapse.

"Certainly, Orange County stepped up with relief for renters. The state is doing everything it can. The federal reserve has done a marvelous job preventing a complete financial sector collapse last week."