Government Goes Big on Latest Rescue Plan
Trying to keep up with central bank actions, as well as all proposed and passed legislation is exhausting. The world seems to have collectively realized (all at once) that the global economic impact of the coronavirus is significantly more severe than previously believed. The number of confirmed cases in Europe has now exceeded the total in China, while the number of confirmed cases in the U.S., according to Johns Hopkins University, has nearly doubled overnight to 11,274. In a matter of days, market expectations seem to have moved from an economic slowdown to a mild recession…to a severe recession…to the worst recession since the Great Depression…to outright depression. That stark realization has moved world leaders to action.