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Thread: Powell says GDP could shrink more than 30 pct, but...

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    Default Powell says GDP could shrink more than 30 pct, but...

    Powell says GDP could shrink more than 30%, but he doesn’t see another Depression


    https://www.cnbc.com/2020/05/17/powe...epression.html


    Negative 30% GDP and stocks explode on the news of no depression?
    Tom
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    Default Re: Powell says GDP could shrink more than 30 pct, but...

    Quote Originally Posted by tsptalk View Post
    Powell says GDP could shrink more than 30%, but he doesn’t see another Depression


    https://www.cnbc.com/2020/05/17/powe...epression.html


    Negative 30% GDP and stocks explode on the news of no depression?
    I watched that interview and was struck by that as well last night. But mulling further on it since I realized that Powell is right about the economy was fundamentally in good shape going into this Covid-19 market plummet unlike the market crash kicking off the Great Depression. He also pointed out that the Fed Reserve has authorities it did not have during the Great Depression -- like QE -- that can be used to restore stability and growth sooner than would otherwise be the case. That gives me some confidence that we won't see a lost decade at least. Hope he's right about all of that.

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