What can economic recovery look like after COVID-19?

What can economic recovery look like after COVID-19?

TOLEDO, Ohio (WTVG) – As Ohio begins to reopen, what will that mean to the economy? Some financial experts say this could be the most important 45 days in US financial history.

The solution is a bit of alphabet soup. Will our economic recovery be the shape of a V or a U? V would indicate a sharp decline and then a sharp incline. The U recovery would be a decline, then a flat line before the incline. We may see that play out in the next few months.

When 70 percent of our economy, consumer spending, shuts down, then a recession is inevitable. Ohio will reopen in part on May 1. The worry becomes, will opening the economy open us up to more illness?

“We called it like a drop of the bomb moment, where either way it’s going to hurt a lot of Americans or hurt a lot of people and you’ve got to make the decision,” said Alan Lancz, an investment advisor.

Lancz said the difference between the U and the V will be the pace at which the country reopens, plus how it happens state by state.

“It’s just a matter of time and how much damage is done. That’s where this reopening is so critical,” said Lancz.