Understanding this US recession, why it’s different this time, and the shape of the coming economic recovery
In The News
Recent actions by global central banks have reignited the debate about whether the Federal Reserve (Fed) will be next to implement a negative policy rate.
The historic April job losses of 20.5 million and spike in the unemployment rate up to 14.7% were painful, mirroring the lockdown of the US economy.
The COVID-19 lockdowns have pushed up initial jobless claims over the past six weeks to roughly 30 million nationwide.
The US economy contracted 4.8% in the first quarter, worse than the consensus expectations of -3.9%.
Crude oil’s supply and demand imbalance is unlikely to resolve quickly. In the near term, we expect further price swings and price declines as uncertainties persist.