Shutting down economy creates risk of causing depression

The coronavirus pandemic that forced businesses across the nation to close will likely send the economy into a decline that exceeds what was experienced during the 2008 financial crisis and could match the devastation of the Great Depression of the 1930s.

“I think it will be closer to a depression than a regular recession,” said Mayra Rodriguez Valladares, a managing principal at the financial consulting and research firm MRV Associates.