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!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.