Moody’s chief economist says a second wave of coronavirus cases will destroy hopes for recovery and push the US economy into a depression.

Mark Zandi, chief economist at Moody’s Analytics says a second wave of coronavirus cases would quash hopes for a swift recovery and push the US into a depression.
Zandi defines a depression as at least 12 months of unemployment above 10%.
States have begun reopening their economies to keep businesses afloat, but public health experts warn a return to norms too quickly could drive a surge in new infections.
Zandi said, “We may not shut down again, but certainly it will scare people and spook people and weigh on the economy. That would be the fodder for a depression.”