by Julia La Roche
Yahoo! Finance
Social distancing and remote work trends set in motion by the ongoing COVID-19 pandemic will reshape the global economy in ways far more structural than either the 2008 financial crisis or the Sept. 11 terror attacks, a former central banker told Yahoo Finance.
Ex-Federal Reserve governor Randall Kroszner — who was in Washington during both events — thinks the coronavirus outbreak is creating long-term structural changes in the economy, while reshaping certain sectors and geographies in profound ways.
The COVID-19 crisis “is going to have a more fundamental and long-run impact on the structure of economic activity than either of those two shocks,” Kroszner, now a deputy dean and the University of Chicago’s Booth School of Business, told “On The Move” this week.