If the President was really so sure that COVID-19 won’t have a broader impact on the economy, his Working Group on Financial Markets wouldn’t be slashing rates and pumping $150 billion dollars a day into repo markets.
…and yet here we are in the midst of anuddah bank bailout.
Stocks are tanking, future uncertainty is increasing, and pressure is mounting on the Federal Reserve once again for yet another Quantitative Easing program — all while we’re in the midst of a trade war with the countries who supply the vast majority of our goods over their attempts to get out from underneath the dollar before its purchasing power collapses.
If we’re going to have to deal with some short term pain either way, this is a perfect pretext to let a recession happen and bring our manufacturing base home.
We’ll be talking about this in further depth.
This is EPISODE 385 of So to Speak w/ Jared Howe!