Kudlow has been talking about a “v-shaped” recovery since the pandemic began. Pretty much no economist — including the 30-odd leading economists we survey every other week — thinks this is plausible. In the most recent edition of the survey, the economists told us that even if 75 percent of Americans became immune to COVID-19 tomorrow, which is obviously a wildly unrealistic scenario, we’re unlikely to return to pre-pandemic GDP until sometime next year.
