Insider Q&A: Why US economy needs more aid from Washington
November 1, 2020
WASHINGTON (AP) — The U.S. economy is expected to rebound from a disastrous spring. Paralyzed by the coronavirus, economic output collapsed at a 31.4% annual pace from April through June — the worst such plunge on records dating to 1947.
Growth is believed to have surged back in the July-September quarter. Yet the economy is still scarred. The Associated Press spoke recently with Timothy Adams, president of the Institute of International Finance, a trade group for the financial services industry that expects the economy to shrink 2.5% for 2020 before growing nearly 5% in 2021. The inter...