April marked the most dramatic and, some would say, dangerous phase of the Covid-19 crisis in the US. There will be less policy support now if the economy again goes southThis is also a more perilous phase for the economy. But there will be less policy support now if the economy again goes south. All this serves as a warning that the most hazardous phase of the crisis in the US will most likely start next month. • Barry Eichengreen is professor of economics at the University of California, Berkeley, and a former senior policy adviser at the IMF.

Source: The Guardian September 10, 2020 06:01 UTC