Daily Archives: Mar 31, 2020 at 07:38 am EDT

New York Fed Launches “Real Time” Index To Monitor US Economy

Every recession is different, born of unique conditions that conspire to push an expanding economy into contraction. That’s certainly true for the deep decline in output that’s widely expected from the coronavirus fallout. As recessions go in the modern era, the one that’s arrived is a one-of-a-kind gut punch that few, if any economists expected as a recently as a month ago. The macro devastation will reorder recession-risk modeling and, in time, spawn new econometric tools. In fact, the change has already started with an early entrant to the new world order via the New York Federal Reserve, which this week announced a new index for monitoring the US economy in “real time.”

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Macro Briefing | 31 March 2020

Congress considers additional steps after passing $2.2 trillion stimulus: Reuters
The grand experiment: putting the global economy into an induced coma: WSJ
Coronavirus will leave millions in poverty, the World Bank warns: BBC
US retail sector shedding workers at alarming pace: NY Times
Will coronavirus fallout lead to civil disorder? Reason
China Mfg PMI rebounds in March from depressed Feb print: Reuters
Eurozone inflation falls sharply in March: MW