By David DeSchryver and Jason Rosenberg
With nearly 25 million Americans still receiving unemployment benefits, the coronavirus is pulling the country into a protracted recession. Earlier this year, economists speculated whether the recovery would be V-shaped, with a quick decline and a quick recovery; U-shaped, with a steep decline and elongated recovery; or perhaps a W-shape, with a short resurgence followed by a steep drop and back up again.
It’s becoming clear, however, that Peter Atwater’s K-shaped analogy is most apt.
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