Pandemic to Cost U.S. Economy $7.9 Trillion Over 10 Years

Without adjusting for inflation, the agency said, the pandemic would cost $16 trillion over the next 10 years. The estimates were an official tally of the damage from the crisis, reflecting expectations of dampened consumer spending and business investment in the years to come. Much of the diminished output was projected to be a result of weaker inflation, as prices for energy and transportation are expected to increase more slowly than they otherwise would have as Americans pull back on travel. The New York Times