COVID Recession Could Be Dodged if ‘The 25-cent solution’ Was Applied, Says Leading Forecaster

Recession
Bull Market and Bear Market Road Signs Referring to the Financial Markets.

According to Brian Bethune, an economics teacher at Boston College and Tufts University, and the winner of the September’s Forecaster of the Month competition; The US could have saved its economy from going into recession only if the ‘25-cent solution,’ as referred to by Bethune, was adopted. 

What’s the 25-cent Solution That Could Avoid Recession? 

Wearing a mask, physical distancing, tracking, and isolating are a few measures listed under the 25-cent solution.

Bethune said that mask is being worn by everyone when stepping outside. If the 25-cent solution was implemented, the US would never have entered into a recession. But, it has not been possible to reach that space, he added. 

Bethune said that mask is being worn by everyone when stepping outside. If the 25-cent solution was implemented, the US would never have entered into a recession. But, it has not been possible to reach that space, he added. Initially, the economy of China faced a plunge but it didn’t enter recession as it managed the pandemic. 

However, the US played out differently. The coronavirus pandemic couldn’t be controlled because the public, government agencies, and officials flouted the basic rules of wearing masks, physical distancing, testing, tracking, and isolation. After seven months while some sectors are pulling back from the recession, some are still deep down into it. This is referred to as a K-shaped recovery in which some sectors recover while some don’t.