Brandywine Global Investment Management, LLC
Topical Insight | June 11, 2020
By Stephen S. Smith, Managing Director & Portfolio Manager
We have been thinking about the coronavirus in terms of time. At this juncture, we want to know how quickly economies will reopen, and in particular, how long it would take for the U.S. economy to normalize to a pre-coronavirus peak. In order to answer this question, we’ll be observing and measuring any rebound in consumption and inflation amidst a backdrop of structurally high unemployment. The period of time this takes and the related rate of change will eventually determine what happens when the U.S. economy reaches a tipping point.
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