A persistent inability of Congress and the White House to agree on more rescue funding threatens to push those still reeling from virus-related impacts farther down the ladder.
And perhaps most importantly, a persistentto agree on more rescue funding threatens to push those still reeling from virus-related impacts farther down the ladder.
Bovino estimated a 30%-35% chance of a "wipeout" that could see "this fragile recovery falling back into recession."National Economic Council director Larry Kudlow has touted the potential of a V-shaped recovery no fewer than four times over the past month, either on CNBC or elsewhere. As recently as last week, he told CNN the "V-shaped recovery is in place."Q2's stunning 32.
"We never thought the V-shaped recovery would be characterized by straight lines and a lack of hiccups given the vast unknowns and forecasting complexity surrounding the virus. Rather, our outlook is based simply on the realities of math and the direction of travel," Shalett said.
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