Goldman Sachs Says Widespread Use of Masks Could Save Economy From a 5% Hit

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  • A federal face mask order would not only lower coronavirus cases, but also save the US economy from a 5% GDP hit, says investment bank Goldman Sachs
  • Goldman's chief economist, Jan Hatzius, said his research team investigated how the use of face masks could impact the economy
  • Hatzius says that their study found that face masks were associated with better coronavirus outcomes, citing that it could substitute for lockdowns that would lead to a 5% drop in GDP
  • According to the research team, a national mandate could raise the percentage of people who wear masks by 15 percentage points and cut daily growth rate of confirmed cases by 1 percentage point
  • According to Goldman Sachs, lockdown efforts initiated ealier this year led to a 17% drop in the US GDP between Janaury and April