In The News Today

Posted at 5:23 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

We need more bailouts? Really? For those of you who believe “life” will ever return to what was considered normal…Do you understand what this chart has already told you?

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Powell Warns Of A Possible Sustained Recession From Pandemic
May 13, 2020

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell warned Wednesday of the threat of a prolonged recession resulting from the viral outbreak and urged Congress and the White House to act further to prevent long-lasting economic damage.

The Fed and Congress have taken far-reaching steps to try to counter what is likely to be a severe downturn resulting from the widespread shutdown of the U.S. economy. But Powell cautioned that numerous bankruptcies among small businesses and extended unemployment for many people remain a serious risk.

“We ought to do what we can to avoid these outcomes,” Powell said.

Additional rescue aid from government spending or tax policies, though costly, would be “worth it if it helps avoid long-term economic damage and leaves us with a stronger recovery,” he said.

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