Chris Holman welcomes Dr. Charles Ballard for a video interview on the Michigan Business Network. Dr. Ballard is a professor at Michigan State University for the Department of Economics. In the interview, they discuss the status of the economy globally and in Michigan.
Watch the full interview with Dr. Charles Ballard now!
In this interview you first get some insight on the reality of a major university's professor dealing with the realities of teaching under COVID19 circumstances, such as teaching via videos and office hours by ZOOM.
From there Dr. Ballard gets into:
How's the World? The world took a huge hit February, March, April, saw a bounce back in May, June, July, however has stalled in August, and so far now in September 2020.
Oil prices plummeted early,... had a bounceback, but not recovered to what it was, and has flattened.
Oil prices plummeted early,... had a bounceback, but not recovered to what it was, and has flattened.
How's the USA?
The jobs report for August comes out today (tomorrow from the reference point of this recording), bounce back since April! But now what? That remains to be seen/
How's Michigan?
Similar to rest of the country, progress since April, but not easy due to reasonable restrictions in place,... encouraging signs, steroids, vaccines should help make regular interactions more commonplace, so the economy comes back when COVID is under control, but the damage has been done. Expect the full recovery to happen but perhaps not until late next year or 2022.