Events and entertainment workers protest unemployment on Aug. 19 in Las Vegas.
BRIDGET BENNETT/AFP via Getty Images)
While it appears that the economy has sharply bounced back from the pandemic’s blow, this is actually a “steroid kind of recovery,” JPMorgan Asset Management’s David Kelly told CNBC.
“We have seen what looks like a V-shaped recovery, but it’s really V-interrupted — it’s half of V,” the chief global strategist said. A V-shaped recovery is one in which an economy sharply rises after a recession.
He explained that when the shot in the arm of fiscal stimulus wears off, growth will slow down again.
“It looks like an economic recovery, but it’s really sort of a steroid kind of…