Hope folks have been following
Fed Chairman Powell's briefing today. Just listening to the Q&A,folks,we are in for a long long time before our Nations Job Picture even thinks about improving. And he talked in detail how the Economy will leave AA folks as well as Women way behind in the recovery.
Folks,we are in for one hell of a slog,Banks will be tightening up lending rules as well as being told to increase their reserves and not pay Dividends or Bonus's.
Looks like zero recovery until mid 2021 .
Also,if things go south,he will be the first to demand a massive relief package. He spoke in a manner as if he has broke away from Trump and his Swampper's .
Nothing will change until the Covid is totally under control.
but the news (Fed comments, stimulus package emerging) is probably a bit more positive (from a market sense) than it has been on other days when the markets climb.
Overall though -- I find it totally incoherent.
into the bond markets. House of cards indeed.
Mid 2021 if everything goes right, big if.