How To Avert Economic Catastrophe: Ideas From 5 Top Economists

Avoid layoffs at any cost. Set up emergency financing for states and cities to help health systems. Cut regulations to speed medical response. Those are some recommendations from leading economists.

The U.S. economy has been staggered and shocked by the coronavirus pandemic. A stock market meltdown was followed by a more seismic event — waves of business shutdowns, putting millions of jobs at risk.

The moment is unprecedented because we are fighting a deadly contagion and a sudden economic downturn simultaneously. Both health and material well-being are at risk. That makes the way out even more challenging. And there's no guaranteed playbook from past economic downturns to rely upon. Because this one is like no other.

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