World Bank Chief Economist Carmen Reinhart said the coronavirus pandemic is turning into a major economic crisis and warned of the possibility of a financial crisis emerging. “This did not start as a financial crisis but it is morphing into a major economic crisis, with very serious financial consequences,” Reinhart said in an interview with Bloomberg Television. “There’s a long road ahead.” Reinhart, who took her new role in June, is best known for her work with then-Harvard colleague Kenneth Rogoff on the last financial crisis in their 2009 book “This Time Is Different: Eight Centuries of Financial Folly.” It made ... (full story)