A recently released study from JPMorgan Chase suggested the coronavirus shutdowns failed to alter the course of the virus, but have resulted in a wake of economic destruction.
The analysis said there might not be a second wave of COVID-19 infections, noting infection rate has decreased since some lockdowns were eased, according to multiple reports.
Unemployment has reached roughly 15 percent in the U.S. due to the pandemic shutdowns. The report suggested that officials relied on flawed science when issuing shutdown orders.
“Unlike rigorous testing of potential new drugs, lockdowns were administered with little consideration that they might not only cause economic devastation but potentially more deaths than COVID-19 itself,” wrote Marko Kolanovic, a strategist who authored the report.
Mr. Kolanovic said the infection rate in areas that have started to reopen has fallen, suggesting the spread of the virus has slowed.
He said that might not be attributed to the shutdowns, but instead to washing hands, sanitizing and warmer weather.