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- Long-time bull Ed Yardeni doesn't think the US economy will recover to pre-pandemic levels before the second half of 2022.
- He thinks US GDP adjusted for inflation will rise by 15% in Q3 2020, but only by 5% in Q4.
- He told Business Insider: "I don't really see the economy returning back to its level at the end of 2019 until maybe the second half of 2022."
- While he thinks the S&P 500 could hit 3,500 by year-end, he believes a 15-20% correction lower could happen if stocks continue to rattle higher.
- Yardeni is less bullish, having predicted a V-shaped recovery and a "melt-up" in stocks as recently as last month.
- Visit Business Insider's homepage for more stories.
Long-time bull Ed Yardeni, who predicted a V-shaped recovery for the US economy as recently as last month, has a very different message now. The world's largest economy won't see growth return to its pre-pandemic levels until the second half of 2022.
The renowned strategist and president of Yardeni Research told Business Insider: "We're expecting that real GDP in the third quarter will be up something like 15% and then maybe 5% in the fourth quarter."
See the rest of the story at Business Insider
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See Also:
- Black-owned businesses nearly twice as likely to close amid the coronavirus pandemic, New York Fed study finds
- Mitch McConnell just opened the door for an extension of the $600 unemployment boost — if Trump supports it
- A former top Trump adviser says partial economic shutdowns may be needed as 'some places are too open'
from Business Insider https://ift.tt/3kpW2iz
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