[Mick]

I think there is no question that consumer spending reacts to uncertainty about economic prospects. Until the general public feels their economic situation is predictable and stable, they are going to cut spending. The epidemic produces uncertainty no matter how it is addressed. The job losses due to the SIP would not ever have been good for the economy. Neither would overflowing ICUs and even more deaths been good for the economy. The real problem is that nobody knows what comes next, and when "next" is. It for sure doesn't start now. There is going to be more economic pain.

I've had some interesting conversations with my peers over the past month regarding the impact of the civil unrest on how their organizations are treating furloughed workers.  A number of organizations were more fully committed to rehiring furloughed workers in the July/August time frame and have now decided to further delay rehire in part because of the uncertainty about economic prospects resulting from the civil unrest.

[Mick]

I think there is no question that consumer spending reacts to uncertainty about economic prospects. Until the general public feels their economic situation is predictable and stable, they are going to cut spending. The epidemic produces uncertainty no matter how it is addressed. The job losses due to the SIP would not ever have been good for the economy. Neither would overflowing ICUs and even more deaths been good for the economy. The real problem is that nobody knows what comes next, and when "next" is. It for sure doesn't start now. There is going to be more economic pain.

I've had some interesting conversations with my peers over the past month regarding the impact of the civil unrest on how their organizations are treating furloughed workers.  A number of organizations were more fully committed to rehiring furloughed workers in the July/August time frame and have now decided to further delay rehire in part because of the uncertainty about economic prospects resulting from the civil unrest.