An ‘L’-Shaped Recovery Isn’t an Anomaly, It’s the Norm

Federal Reserve Chair Jerome Powell pauses during a news conference in Washington on March 3, 2020. Jacquelyn Martin/AP Photo

Commentary

Many analysts and economists are trying to predict the shape of the economic recovery post-COVID-19. To understand what the recovery may look like, we need to look at past recoveries and at the history of pandemics.