Aid for US economy is expiring – at just the wrong moment
When the coronavirus hit this spring, Souren and Susan Etyemezian made a sweeping decision to close three of their specialty nut stores – all in high-end locations around Boston – and consolidate around their store in middle-income Watertown.
It’s a sign of the topsy-turvy nature of the coronavirus recession. The closed Fastachi nut store in posh Wellesley is stripped nearly bare; even the counter is gone, leaving electrical wires sticking out from the base. At a nearby intersection, 4 of 10 shops are either empty or advertising for tenants.
In this downturn, it’s rich people who have cut back spending the most, according to new research. But the threat to businesses and jobs is nationwide, affecting communities of all income levels. And now, the U.S. economy is reaching a critical juncture.
Inaction carries big risksSpeed versus precisionPartisan divide in CongressThe toll on businessesYou’re reading a preview, subscribe to read more.
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