From their editorial board: Financial markets paused their slide Thursday,
but no one should think this rolling economic calamity is over. If this
government-ordered shutdown continues for much more than another week or two,
the human cost of job losses and bankruptcies will exceed what most Americans
imagine. This won’t be popular to read in some quarters, but federal and state
officials need to start adjusting their anti-virus strategy now to avoid an
economic recession that will dwarf the harm from 2008-2009 (WSJ).
From Owen Strachan: I‘m not a
doctor or a policy wonk. But we need a new policy. Social distancing is right
for now, but will not likely work for 2-12 months. Global economy will tank
(Twitter).
From Jay Cost: We have some
advantages. Unlike the 1929 and 2008 panics, the government has not acted
slowly or counterproductively. Lots of gripes 10 days ago when the Fed slashed
by 50bp. But that was prescient. Same deal here. Go BIG or go home
(Twitter).
No comments:
Post a Comment