{"id":20162,"date":"2020-04-17T14:37:32","date_gmt":"2020-04-17T18:37:32","guid":{"rendered":"https:\/\/www.rochester.edu\/coronavirus-update\/?p=20162"},"modified":"2022-02-10T14:01:53","modified_gmt":"2022-02-10T19:01:53","slug":"rochester-economist-without-stronger-leadership-disaster-lies-ahead","status":"publish","type":"post","link":"https:\/\/www.rochester.edu\/coronavirus-update\/rochester-economist-without-stronger-leadership-disaster-lies-ahead\/","title":{"rendered":"Rochester economist: Without stronger leadership, \u2018disaster\u2019 lies ahead"},"content":{"rendered":"

The stimulus package that passed recently as the Coronavirus Aid, Relief, and Economic Security, or CARES, Act carried with it an assumption that \u201cwe\u2019ll see a rapid economic recovery in the next 4 to 6 months,\u201d says Narayana Kocherlakota, the Lionel W. McKenzie Professor of Economics at the\u00a0University of Rochester<\/a>.\u00a0\u201cMy own forecast is that the downturn will be severe and last much longer.\u201d<\/p>\n

One reason for that prediction is that to resume economic activity, we need \u201cmass testing, tracing, and quarantining.\u201d And, Kocherlakota, a former president of the Federal Reserve Bank of Minneapolis,\u00a0says, \u201cI do not see enough leadership at the federal level to make that happen.\u201d<\/p>\n

Read the Q&A with Kocherlakota<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The COVID-19 economic downturn is likely to be deeper and more prolonged than any since before World War II, says University of Rochester economist Narayana Kocherlakota. He explains why in this Q&A.<\/p>\n","protected":false},"author":6,"featured_media":20172,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[176],"tags":[836],"class_list":["post-20162","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-apr-2020"],"yoast_head":"\nRochester economist: Without stronger leadership, \u2018disaster\u2019 lies ahead<\/title>\n<meta name=\"description\" content=\"In a Q&A Rochester economist Narayana Kocherlakota explains why the coronavirus (COVID-19) economic downturn is likely to be deep and prolonged.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rochester economist: Without stronger leadership, \u2018disaster\u2019 lies ahead\" \/>\n<meta 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