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What's in store for the U.S. economy?

The U.S. economy continues to struggle in the wake of a deep 2008 recession. Julia Coronado, senior U.S. economist at BNP Paribas, tells BNN that another recession is on its way for the world's largest economy.

"We've just experienced a massive shock in confidence," she says. "We see businesses starting to pull back on hiring and that's going to lead to a retrenchment on the part of consumers."

And Coronado says many of the proposals by the Obama administration will fail to fix the country's weak labour market.

"The sense of urgency on the part of policymakers hasn't really sunk in yet," she says. "I don't think the proposals on the tables are really going to be effective either in the near term or in the medium."

"Some of the unemployment we're seeing is structural and somewhat long term in nature, so you can't just put a temporary in place to throw a few dollars at the problem," she adds. CTV Two CTV News CTV News Channel BNN - Business News Network CP24