Dow Tanks 7% As 2nd Wave Of Covid Virus Shutdowns Loom (Q2 GDP At -48%, Taylor Rule Suggests Target Rate of -11%)

Anthony Fauci, the economic Cassandra, is screaming about the 2nd wave of the Covid virus. This will lead to a reversal of the re-opening of the US economy and further economic disaster. Hence, these fears have driven the Dow down almost 7%.

As Atlanta Fed’s Q2 GDP forecast is at -48.466%.

And the Taylor Rule suggestion for the Fed’s target rate is -11%. Although Powell won’t go there … at least yet.

Other than not shutting down the economy, Chairman Powell must be panicking. But at least Powell is diversified!

Maybe the economy needs a douse of Pabst Blue Ribbon!

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