In the words of Senator Kennedy of Louisiana (who borrowed from J.M. Keynes,) “In the long run, we’re dead.”
Long term is hard to predict, but right now we have a shaky consumer who is taking a jolt to his 401K, plus we have the typical business leader, like say, the CEO of Illinois Tool Works, who isn’t in position to plan for hiring or capital investments for at least the next couple quarters.
The administration needs very much to initiate a fireside chat format pod cast to report for themselves and explain.