about a looming economic crisis long before the coronavirus pandemic caught the world by surprise.
"Initially — and I mean for the next one or two years — this is going to be a deflationary shock of intense proportions," Rosenberg recently said on the"It will be a deflationary shock that will linger on for the next one, two, or three years. We're going to be left, most likely, with double-digit unemployment for an extended period of time."
He added that much of the stimulus cash will likely be stashed away: companies will be focused on maintainingFollowing a deflationary period of about three years, Rosenberg sees consumer and business demand returning to some semblance of normal, provided a vaccine or herd immunity proves effective against the coronavirus.
Rosenberg also sees a future where supply chains become more localized given the global and tactile spread of this crisis.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »