Pandemic 2nd wave may have worse psychological impact: Shiller - Business Insider

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.Nobel Prize-winning economist Robert Shiller says a second wave of COVID-19 could cause more damage to the national psyche than the first outbreak. The US reported a record 60,000 new cases of COVID-19 on Wednesday.

Nobel Prize-winning economist Robert Shiller argued a second peak in infections could have a more negative impact on the American psyche than the first bout, especially if the virus prevents states from reopening.on Tuesday , the Yale University professor said: "Looks like we might be entering a second phase. There might have to be closures again."Shiller's comments come as COVID-19 cases have taken off across several US states including Atlanta, Florida, and Texas.

In the same interview, he cautioned against automatically assuming a booming stock market will translate into an economic recovery, as aggressive stimulus measures by the US Treasury and Federal Reserve in response to the pandemic have boosted share prices.

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