Before coronavirus hit, most of the U.S. GDP was driven by consumer demand for goods and services. And American demand for stuff drove growth all around the world.
Since coronavirus hit, that demand has dropped into the deep freeze, as people across the U.S. have sheltered in, and businesses of all kinds have closed. That's created a lot of pent-up demand, and businesses will certainly see a surge in demand when they reopen and consumers engage with them again.
But what happens when that pent-up demand is spent? Will consumer demand for goods and services bounce back to where it was? The answer will tell us how much permanent damage was done to our economy.
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