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The Economy Is Grinding to a Halt. Here’s What We Need From the Feds

An EconoFact memo on the coronavirus and its economic implications co-published by Michael Klein is cited in The Boston Globe.

It’s inevitable: To contain the spread of the coronavirus pandemic and save thousands of lives, the economy is going to take a hit. As shutdowns disrupt businesses large and small, we may even fall into recession.

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“As banks begin to suspect that customers will be unable to repay loans on a timely basis this could cause banks to raise borrowing costs and to tighter financial conditions which could cause a spiral of slower growth,” wrote Michael Klein and Miriam Wasserman in an analysis by EconoFact, a project of the Edward R. Murrow Center for a Digital World at the Fletcher School.

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