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'Things will get worse before they get better': Ex-Cisco CEO John Chambers predicts the US economy won't recover fully until next year

'Things will get worse before they get better': Ex-Cisco CEO John Chambers predicts the US economy won't recover fully until next year
AP



The US economy will struggle until at least late fall and won't recover fully until early next year, venture capitalist and former Cisco CEO John Chambers told Marketwatch on Tuesday.




"Things will get worse before they get better," Chambers said. "The next quarter is going to be ugly."




Chambers said the novel coronavirus pandemic was hammering the US economy, the healthcare system, and global supply chains, and posed an existential threat to many companies.




"It's time to reinvent or be left behind," he said.




Visit Business Insider's homepage for more stories.



The US economy will be stuck in the doldrums until at least late fall and won't stage a full recovery until early next year, venture capitalist and former Cisco chief John Chambers told Marketwatch on Tuesday.
"Things will get worse before they get better," Chambers — who oversaw an almost 40-fold rise in the tech titan's annual revenue to $40 billion while serving as CEO between 1995 and 2015 — said in the interview.
"The next quarter is going to be ugly," he added.
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