Identifying the shape of an economic recovery in a world of known unknowns
Drawing up forecasts amid public spending and unemployment
Karen Ward of J.P. Morgan Asset Management
As shutdowns are eased around the world, forecasters are debating the likely shape of the recovery.
The optimists point to a V-shaped recovery, the pessimists L-shaped, and the cautious look for something less linear, such as W, U or √. In truth, it is very difficult to know at this stage. The risks...
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