It is a strange world that we suddenly find ourselves in – who would have thought only a month ago that we would face a dangerous, easily transmittable virus, we would all be working from home, our kids would be attending classes from home and all the simple pleasures we always took for granted would not be there for a few months: going out to a restaurant or bar, getting together with friends or seeing a concert, game or a play or FEI NYC event. This is the first time in all our lifetimes that every country around the world is going through the same issues - no matter who I speak to in my daily work, a person in Canada, Europe, India, etc. we are all experiencing the same thing.
With the stock market in a bear market, our retirement accounts sharply lower, unemployment soaring and the cacophony of constant news about infections and deaths soaring who can blame you for feeling scared and overwhelmed by it all.
Please remember though that unlike other downturns the sharp impact here was caused by government mandated shutdowns of restaurants, barber shops, etc. and stay at home and travel restriction orders. I believe that this will be a “V” shaped recession that once we are “done” with this virus, things will bounce back strongly. Various models are forecasting NY to be over the worst of this in 4-6 weeks with the rest of the country following suit another 6-8 weeks later at which time we will all be more than ready to see our friends, go out to eat, travel and yes, go back to the office.
While I am sure that we will have some lingering changes to how we go about our lives (shaking hands, how we react to a person coughing or sneezing, etc.) we will get through this and we will come our stronger at the other end. In the meantime, your FEI NYC chapter will be offering helpful webinars and virtual happy hours (they are becoming a thing) so be on the lookout for those invitations.
Until this is over, please stay at home, stay healthy and safe.
Follow us on LinkedIn where we will be showcasing members, offering ways to stay connected and starting conversations about what we are all experiencing.
All the best,
Nick