2020 Q1 Economic Recap and Rate Outlook
The grueling final weeks of March made the first 91 days of 2020 seem like a lifetime. The economic outlook, although not robust, was nevertheless on track to enter a record 12th year of expansion. Most equity market experts anticipated moderation following the best annual performance in 22 years, but few believed the stock markets would actually retreat in 2020. These wildcards to growth seemed significant at the time, but were mostly forgotten as the narrative of the quarter gradually shifted toward, and then suddenly became all about COVID-19.