Daily Archives: Apr 10, 2020 at 07:43 am EDT

Anticipating The Ugly US GDP Reports Ahead

In recent weeks the moderate optimism on the US economic outlook has deteriorated—gradually at first, then suddenly. The catalyst, of course, is the coronavirus and the attempt to battle its spread—a policy that economist Paul Krugman describes as the economic equivalent of a “medically induced coma.” Whatever you call it, the blowback is severe and no one knows how it’ll play out or, more importantly, how the eventual recovery will unfold. Meantime, let’s consider some of the latest guesstimates for the Covid-19-triggered recession that’s roiling the American economy.

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Macro Briefing | 10 April 2020

Economic fallout stirs debate about when to reopen US economy: WSJ
Fed expands stimulus to support economy and markets: CNBC
European Union agrees to $540 billion rescue package for coronavirus: BBC
IMF chief: global economy set for worst recession since Great Depression: Reuters
OPEC deal on oil production cut in doubt after Mexico balks: CNBC
Mortgage rates near record low but securing a new loan is challenging: MW
US jobless claims continue to soar: CNBC
US Consumer Sentiment suffers dramatic decline in April: Bloomberg