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U.S. economy bounced back but not yet in ‘period of recovery’: Glenn Hutchins

North Island Chairman and Co-founder of Silver Lake Partners Glenn Hutchins and his son James, Co-founder of North Island Ventures, speak with Yahoo Finance editor-in-chief Andy Serwer about the cryptocurrency market as well as how the U.S. economy is doing months into the COVID-19 pandemic.

Video Transcript

GLENN HUTCHINS: The depression is over, and now the recession is setting in. We're not in a period of recovery. You shouldn't confuse the bounceback as one of recovery in my view. And the long-term consequences of the damage done to the economy by the fundamental mismanagement of the pandemic are what we're dealing with right now.