Business
Will the Corona virus trigger a recession? That’s the question on everyone’s mind and I think it will depend on where you are in the economy. Some sectors, like oil and travel, will experience a recession, which is technically two quarters of decline. Other sectors, like online retail, may not. The challenge will be stimulating the economy because there’s little the Fed can do with the funds rate, given that it is already near zero. The Fed did what it can, cutting rates in an emergency meeting a week ago. Congress, though, hasn’t done its part. A tax cut for lower-income workers is the best short term strategy but the best long-term thing they can do to boost the economy is infrastructure spending. To learn more, visit odu.edu/business. This has been a Strome Business Minute, presented by the Strome College of Business at Old Dominion University.