The Senate's economic-spending package put money in the hands of consumers just as they reduced their purchases by 13.6 percent due to the coronavirus shutdowns.
That's an ostensible scoop, but the real story is that Trump is covering up the recession in order to increase his reelection prospects.
Surrounded on all sides by foes, Xi Jinping faces mounting obstacles to his goal of ‘national rejuvenation.’
The desire to get tough on Beijing may conflict with the president’s short-term political and economic goals.
A protracted economic shock could put more capital in the hands of weak businesses, especially if the Fed expands its drastic mitigation measures.
The Fed’s unprecedented response to the COVID-19 crisis was merited by the bleak economic outlook, but it could amount to a Faustian bargain.
The decline in coronavirus cases is likely due to a combination of decreased transmission and lower testing numbers.