Economic alphabet soup: Are we in a V-shaped or K-shaped recovery?

Most people don't know the recession shapes. President Donald Trump has described the country’s economic recovery as V-shaped, whereas Vice President Joe Biden has called it a K-shape. Professor of Economics Dennis Hoffman agrees with the latter and explains why.

Most people don't know the recession shapes. President Donald Trump has described the country’s economic recovery as V-shaped, whereas Vice President Joe Biden has called it a K-shape. Professor of Economics Dennis Hoffman agrees with the latter and explains why.

In this story published Nov. 2, 2020, on KJZZ Phoenix:

Because some of us are V-shaped. But so many are the bottom of the K, and they're just headed down. There's gonna be a number of people facing tough times for a long period of time.

– Professor of Economics Dennis Hoffman, who's the director of the L. Seidman Research Institute