James Arnold Says Economic Recovery From Coronavirus Crisis Will Be Slow [INTERVIEW]
Friday on The Chad Hasty Show, James Arnold, President of Lubbock's ABC Bank shared news from the financial world and the coronavirus crisis.
Arnold talked about the small business loans ABC Bank has made, the status of the return to normal business in Lubbock, what the recovery will look like on the local and national levels, and how the disaster is affecting agriculture and cotton producers.
While answering Hasty's questions about how economic recovery will come about, Arnold said,
I don't think we're going to march out of this thing economically, I think we're going to crawl out of this thing. When 9/11 hit, it took the airline industry five years to recover...And they were only out of business, they were grounded for about ten days, maybe less than ten days...So it's going to take the airline industry, by themself probably a decade to recover, I don't know. So I think it's going to be a slow recovery...I think once we get either a vaccine or some kind of cure to coronavirus, if people can be comfortable again, then I think you'll see the economy rebound pretty remarkably.
Listen to the entire interview with James Arnold in the video above.
The Chad Hasty Show airs weekday mornings live, from 8:30 AM to 11:00 AM on News/Talk 95.1 FM and 790 AM KFYO, online at KFYO.com, on the fantastic & the free KFYO App, as well as on all Alexa-enabled devices using the KFYO Skill. Follow Chad on Twitter via @ChadHastyRadio & KFYO Radio at @KFYO!
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