“It will be a devastating week for the US economy. There is no playbook — and stimulus must come fast”
March 31, 2020
“A sudden stop in the economy so severe, Goldman Sachs economists now forecast real GDP growth of negative 9% in the first quarter and down an astonishing 34% in the second. Economists at Goldman Sachs expect the economy to recover mid-year with a 19% gain in the third quarter…
It all makes the quick and efficient rollout of the stimulus incredibly urgent. Promises from the White House to have stimulus checks direct-deposited in three weeks — and small business loans available Friday — are aggressive and absolutely necessary. Today is the end of a quarter and tomorrow the beginning of the month. That means bills are due for business and consumers. But the emergency government rescue funds have not arrived yet…”
https://www.cnn.com/2020/03/31/economy/us-economy-coronavirus/index.html