In some recent research Goldman Sachs economists said our current situation could be something similar to the man-made recession in 1981-82 where Fed Chairman, Paul Volker rose interest rates up to 20% to reduce runaway inflation and a robust economy and job market. Many of the 2.5 million temporary jobless workers were rehired once the central bank relented.
It is not 100% the same as what we have now, but a sample of how quickly the jobs can come back once the government reopens our economy. I remain optimistic that we will see a gradual return that will speed up very quickly and we’ll have a boom summer like we’ve never seen before. This is based on my expectation that the economy will begin to open in the first part of May.