Economic Outlook: Then Came COVID-19

The COVID-19 pandemic has had swift and severe effects on the U.S. by devastating the stock market and halting the broader economy. However, given the indicators of instability that had previously existed, an optimist may argue that the virus simply expedited a previously foreseen economic downturn and a recession-induced bear market. Undoubtedly this is an event-driven downturn that has a few wildcards in uncharted territory. The resiliency of the U.S. economy and efficiencies of the global economy will be challenged. This Outlook provides insights into the economic environment and how it potentially unfolds over the short- and long-term.