Federal Reserve chair Jerome Powell gave investors a ‘dire warning’ about the economic prospects yesterday, says John Velis, strategist at BNY Mellon. Velis writes: In short, Powell is warning of a long, drawn-out recession, where productivity, income, and employment growth stagnate and where entire businesses and industries are wiped out and debt mounts “for years to come”. This is a dire risk, and one which Fed policy tools cannot do much to address without an assist from fiscal policy.
What, investors didn't fear long-term economic harm from Covid-19 until now? Or institutions getting rich off the little guy?
Ya think?
لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر: