Fed's Bullard - Coronavirus shutdown not a recession but an investment in survival

FILE PHOTO: Executive Director of the World Health Organization's (WHO) emergencies program Mike Ryan speaks at a news conference on the novel coronavirus (2019-nCoV) in Geneva, Switzerland February 6, 2020. REUTERS/Denis Balibouse

WASHINGTON (Reuters) - In normal times massive unemployment and a collapse in economic output would be tragic.

This time, as the coronavirus cloisters millions of Americans and shuts down the U.S. economy, it should instead be saluted as an investment in public health that lays the groundwork for a rapid rebound.