Economy

Danielle DiMartino Booth shares her outlook on short-term unemployment and also November's elections.

The economic recovery will be Y-shaped, according to Liz Ann Sonders, Schwab's chief investment strategist.

It's the first quarterly economic contraction since 2014 and the biggest since 2008.

History suggests deflation is unavoidable in the near term, regardless of central banks' attempts to forestall it. Some companies will falter, but others are positioned to survive or even thrive.

"There's not going to be any desire on the Republican side to bail out state pensions by borrowing money," he said.

The Wharton professor also weighed in on the price of oil tumbling below zero.

The decline was linked to the May futures contract, which expires tomorrow, forcing sellers to find buyers.

Crucial characteristics of the recovery effort that will determine how quickly the U.S. economy can rebound.