Blackstone CEO Stephen Schwarzman forecasts 'big V' economic recovery this summer

The economy will stage a "big V" rebound from its second-quarter lows over the next few months, Blackstone CEO Stephen Schwarzman said on Monday.
Economic reopenings will drive the first bounce-back but fail to bring the US back to 2019 levels of activity, he said during the Bloomberg Invest Global virtual conference.
A viable coronavirus vaccine will drive the second stage of recovery, and "people are much more optimistic" that one will come to market faster than in the past, the CEO added.
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