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"Black swan" likely to cause recession

Sturgeon Bay Mayor David Ward sees some black clouds on the economic horizon. Ward, who has a Ph.D. in economics and was a former college professor, does not believe it’s possible to avoid a downturn. 

 


Ward expects a recession to take hold even with the stimulus bill passed this week in Washington, D.C. He thinks the economic effects from the coronavirus “black swan” event, defined as something rare and unforeseen, will hit before the stimulus can trickle through the economy. Ward says Sturgeon Bay’s manufacturing base should hold up well and encourages people to support local businesses even if it is as small as ordering a take-out meal at an area restaurant.

 

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