11 Minute Coronavirus Contraction Video From Economist Brian Wesbury
Please check out this 11 minute video from Economist Brian Wesbury below. Here are some bullet points he makes:
-The shutdown in the US will lead to a contraction or maybe a recession, but the economy should make up the ground in the 18 months following
-Assumptions we hear about are modeling worst-case scenarios
-Stock Market is pricing in worst-case scenarios as well. Usually the markets reverse course ahead of the general economy
-Virus cases tend to ramp up quickly but also fall quickly as witnessed by past historical outbreaks as well as the current China/Korea case with Coronavirus
-The Fed has cut rates to zero and is injecting massive amounts of stimulus
-This is NOT 2008