Economic Commentary provides a take on the most recent U.S. economic events, indicator releases, and policy developments. These events are put into context of our projections and market views to see the practical implications of the economic moves.
This report is the tip of the iceberg in terms of bad economic data as the coronavirus (COVID-19) closures cascade through the US economy.
Executive Summary: A global recession is unavoidable and it will extend to the US. The depth will be influenced by the virus containment efforts, and the duration will be shaped by monetary and fiscal stimulus.
The Federal Reserve stepped in to help the commercial paper market and overnight lending to investment banks.
The Federal Reserve (Fed) took four immediate actions in reaction to economic risks from the coronavirus (COVID-19) outbreak
US payrolls added 273,000 in February, well ahead of consensus expectations, while the unemployment rate drifted lower to 3.5%.
The Federal Reserve (Fed) cut the federal funds target rate by half a percentage point (0.50%) to blunt some of the downside economic risk from the coronavirus (COVID-19) outbreak.