The K-Shaped Recovery is really starting to take its toll on those on leg of it. The news out of small business is deeply worrisome. Hopelessness is setting in. h/t @SoberLook pic.twitter.com/YEoVzMEWN0
— Peter Atwater (@Peter_Atwater) November 11, 2020
— Adam Tooze (@adam_tooze) November 8, 2020
— TalkMarkets (@TalkMarkets) November 10, 2020
Americans have turned modestly pessimistic over the near-term outlook for the U.S. economy, amid surging coronavirus cases and a lapse in fiscal stimulus, the November IBD/TIPP Poll finds. The six-month economic outlook index retreated to 47, after registering optimism in October for the first month since February. Readings below 50 reflect pessimism.
Even if the coronavirus is contained relatively quickly, a great number of firms are going to have difficulty surviving, Boston Federal Reserve President Eric Rosengren argued on Tuesday, as reported by Reuters.
Congress Must Pass ‘Essential’ Covid Stimulus Before Inauguration Day, Says U.S. Chamber of Commerce
“The sooner it’s done, the better for the beneficiaries of the stimulus,” U.S. Chamber of Commerce CEO Thomas Donohue told CNBC.
Dallas Federal Reserve President Robert Kaplan said on Tuesday he was “cautious and concerned” about downside economic risks in the short run because of the resurgence of the coronavirus, but more optimistic in the longer term.
The retail sector in America continues to fall apart.
Each recession takes longer to come out of pic.twitter.com/yNLrxV5LMJ
— Win Smart, CFA (@WinfieldSmart) November 10, 2020
A disaster waiting to happen at the state and local level…
— Gregory Daco (@GregDaco) November 7, 2020
Case rates surpassed those in U.S. federal and state prisons, which were 5.5 times higher than in the general population from March to June. t.co/82rQRLMwKO
— USA TODAY Health (@USATODAYhealth) November 11, 2020