from WallStForMainSt
Jason talks about the Jerome Powell 60 Minutes interview that aired on Sunday. Watch the full 13 minute TV interview and read the transcripts here: https://www.cbsnews.com/news/full-tra…
Despite saying how GDP could easily shrink by 20% to 30%, and unemployment could be at least 20% to 25% Powell was adamant that the US is NOT in an economic depression!
Powell says GDP could shrink more than 30%, but he doesn’t see another Depression https://www.cnbc.com/2020/05/17/powel…
Also, Powell took the time during the 60 Minutes interview to offer Congress to lend Congress even more $$ to spend. “If we lend it, you can spend it!” This is for all intents and purposes MMT. Or at least MMT Lite as some financial professionals are calling it.
Why 42% of coronavirus-related job losses will be permanent: Economist https://youtu.be/nNxaeqj5LcU
New David Rosenberg interview on Hedgeye about GDP and jobs collapsing and record unemployment: https://youtu.be/BeR94rz_WAY
One-Quarter of American Restaurants Won’t Reopen, OpenTable Says https://www.bloomberg.com/amp/news/ar…
Less Than Half Of Los Angeles County Residents Report Having Jobs, Survey Finds https://www.forbes.com/sites/carliepo…
Coronavirus stimulus checks: Here’s what a second round could look like https://money.yahoo.com/heres-what-a-…
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