Recessions can typically be hard to predict, but that’s not the case this time. The COVID-19 pandemic sweeping the globe has pushed the U.S. economy into recession with U.S. GDP falling 4.8% in the first quarter. While the drop was sizable, an even more pronounced decline is in store for the second quarter in my view, as broad swathes of the country remain shuttered. With the U.S. feeling the sting of a sharp reduction in consumer spending and industrial production, there are five realities to keep in mind.
