The COVID-19 pandemic has already changed our economy. The U.S. has approved $3 trillion in pandemic-related relief, more than 22 million Americans are applying for unemployment, and 7.5 million small businesses are at risk of closing. At some point, we will all be financially impacted by the economic ripple effects of the global pandemic.
We asked Sarah Nadav — CEO of Rapid Economic Innovation and a behavioral economist with the World Economic Forum who has spent 10 years creating technology for the secondary defaulted debt market — for her advice on navigating the coronavirus recession. She’s currently working on a book that will be a financial and emotional crisis guide to dealing with our new normal in a pandemic era.
How long will the COVID-19 recession last, and how bad will it get?
We are entering a period where there is almost 100% certainty among economists that…