The uncertain shape of the recovery

1 big thing

Axios

News

4.0 • 2K Ratings

🗓️ 25 June 2020

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

The consensus among economists is that the U.S. recovery will most likely be something in between a V and a W — a sharp drop, a relatively small bounce back, and then a long period of slow growth. Time to pay attention again: The coronavirus surge is real, and it's everywhere in the United States. And Axios co-founder Mike Allen tells us what to expect at the virtual Democratic National Convention in Milwaukee. Guests: Axios' Felix Salmon, Sam Baker, and Mike Allen. Credits: "Axios Today" is produced in partnership with Pushkin Industries. The team includes Niala Boodhoo, Sara Kehaulani Goo, Carol Alderman, Cara Shillenn, Naomi Shavin, Nuria Marquez Martinez and Alex Sugiura. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. Go deeper: The coronavirus surge is real, and it's everywhere Biden to accept nomination at pared-down Milwaukee convention Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Do you hear that? It might sound like nothing to you, but it's actually the sound of nuclear, wind and solar energy.
0:11.0	At EDF, we're busy generating more British
0:14.2	zero carbon electricity than anyone to help keep future energy
0:17.7	cost down for everyone and help cut UK carbon emissions to nothing.
0:21.8	Sound good to you? Find out more about our
0:24.9	zero carbon generation at EDF Energy.com slash Help in Britain.
0:28.6	Good morning. It's Thursday, June 25th. Welcome to Axios today. I'm Naila Boodoo. Every
0:39.5	weekday in just 10 minutes will make you smarter about your day.
0:43.4	We'll start with one big thing, or one story you can't miss.
0:48.8	Today, how fast will our economy recover?
0:51.8	The pandemic hangs over that and the number of
0:54.4	COVID-19 cases state by state is looking pretty bad. But first the shape of the
1:00.0	economic recovery is today's one big thing.
1:07.0	Felix Salmon is the chief economic correspondent for Axios.
1:11.0	I asked him if he could explain a shorthand economists often use when they refer to an economic recovery.
1:17.0	They're very busy, Niala. They can't talk about long words, so they just use letters, whether it's V or U or L or I or W,
1:27.6	because they're far too busy to be able to actually have coherent sentences.
1:32.3	Well, this is audio, so maybe tell me what a V economic recovery looks like.
1:37.3	So a V is we locked down because of the coronavirus and then we unlocked and we went back to how we were.
1:45.5	That's the best-case economic scenario and it's definitely the economic forecast that the
1:51.7	Trump administration is pushing.
1:53.4	So we're not a V. Are we a U?
	...

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