Faculty News
Lord Mervyn King warns against viewing the coming economic downturn in the U.K. like a conventional recession or depression, noting that the government is deliberately pressing down on economic activity to deal with the coronavirus crisis
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Excerpt from Reuters -- "Former Bank of England Governor Mervyn King said on Monday that the economic challenge facing Britain was tougher than during the 2008-09 financial crisis and that public borrowing was likely to rise significantly. But he warned against viewing the coming economic downturn like a conventional recession or depression. 'In order to deal with a health crisis, the government is deliberately pressing down on economic activity ... and at some point there will be a rebound,' King said."
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