Insufficient testing for the coronavirus presents a major obstacle to restarting the U.S. economy, according to City National Bank's investment team, which expects states to start gradually lifting pandemic restrictions next month if they can put appropriate testing and isolation protocols in place.
Broadly, the bank's investment leaders continue to expect the U.S. economy, battered by social distancing measures and business shutdowns designed to slow the pandemic, to fully recover in about two years. They're reassured by the federal government's powerful policy moves to support businesses, workers and consumers, and by signs that virus hospitalizations and fatalities may have reached a plateau.
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