Economy

U.S. economy needs ‘really big’ Covid relief package, says Paul Krugman

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Nobel Prize-winning economist Paul Krugman.

Panayiotis Tzamaros | ullstein bild via Getty Images

The U.S. may need several hundred billion dollars a month in “disaster relief” to keep the economy afloat as a raging coronavirus outbreak continues to suppress prospects for workers and businesses, Nobel prize-winning economist Paul Krugman said on Thursday.

“We really are still very much in the disaster relief stage,” he told CNBC’s “Street Signs Asia.”

“A lot of people are going to be out of work, a lot of businesses are going to be stressed. We need to just make life tolerable for them,” he added.

Krugman, an economics professor at City University of New York’s Graduate Center, said it’s…



Source cnbc.com

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