Fed's Bullard - Coronavirus shutdown not a recession but an investment in survival
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WASHINGTON (Reuters) - In normal times massive unemployment and a collapse in economic output would be tragic.This time, as the coronavirus cloisters millions of Americans and shuts down the U.S. economy, it should instead be saluted as an investment in public health that lays the groundwork for a rapid rebound.That is the view of St. Louis Federal Reserve President James Bullard, who argues that a potential $2.5 trillion (2.1 trillion pounds) hit coming to the economy is both necessary and..