LOUISVILLE, Ky. — A top economist warned Louisville is headed for a recession.
Doctor Paul Coomes, an economist with UofL, presented to the Metro Budget Committee this afternoon.
Coomes says if the state had lifted restrictions after one month, there may have only been a slight economic downturn. But as every week goes on with restrictions, Coomes says it becomes more likely the city will see a severe recession.
"I think it's now too late. Everything in my gut tells me you can't pause an economy for three months and not have a recession,” Coomes said.
Not only is the city seeing financial issues, but the state is expecting a budget shortfall of $319 million to $496 million.
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