European Central Bank President Christine Lagarde said the recovery from the coronavirus pandemic will be “restrained” and will change parts of the economy permanently. While the worst of the crisis might be over, it’ll take time for the “phenomenal” jump in savings to trickle into higher investment and spending, she said in a webinar on Friday. The recovery will also be “incomplete” as trade is unlikely to return to pre-crisis levels and productivity may be weaker. “We probably have passed the lowest point, and I say that with some trepidation,” Lagarde said. “The airline industries, the hospitality industries, the entertainment industries are going to come out of that recovery process in a […]