“This is About as Dire as the Language the Fed Uses Can Get.”, Said George Pearkes, Macro Strategist at Bespoke Investment Group

(Federal Reserve) “The coronavirus outbreak is causing tremendous human and economic hardship across the United States and around the world. The virus and the measures taken to protect public health are inducing sharp declines in economic activity and a surge in job losses. Weaker demand and significantly lower oil prices are holding down consumer price inflation. The disruptions to economic activity here and abroad have significantly affected financial conditions and have impaired the flow of credit to U.S. households and businesses.”

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