How you do further juice a market if you’ve cut rates to zero and gone QE unlimited already?
— Sven Henrich (@NorthmanTrader) April 28, 2020
US Economy Could Contract 30% in Second Quarter, Warns Advisor Hassett
The U.S. economy could contract at its worst rate since the Great Depression later this year due to the coronavirus crisis, warned Kevin Hassett, who recently rejoined the Trump administration as a senior economic advisor.
Almost 9 in 10 Concerned About Economic Collapse: Poll
The survey found 89 percent of both Republicans and Democrats surveyed said they’re concerned about the economy collapsing during the pandemic.
#recession … #GFC2 edition#Fed Money Printer Goes Brrr? 🤔 t.co/BOy6lyWwVc
— Invariant Perspective (@InvariantPersp1) April 29, 2020
The CB Labor Differential fell a whopping 43.1pts in April, the largest 1M decline in history after breaking trend in Feb. In ‘89, ‘00 & ’07 this led to a prolonged collapse in US consumer confidence w/ lengthy equity bear mkts. Down-cycles lasted 33M w/ declines of 62pts on avg. pic.twitter.com/jJ4viiCwqj
— Julien Bittel, CFA (@BittelJulien) April 28, 2020
(Wow)
Survey Finds 50 Million Americans Have Lost Their Job In Past 6 Weeks | Zero Hedge t.co/JU2ubgoqxy— Will Meade (@realwillmeade) April 28, 2020
The US Will Need to Spend Trillions More as Economy Takes Until 2022
A third of respondents in the CNBC Fed survey believe the economy won’t be fully restored until the second quarter of 2022.