Posted on 04/17/2020 8:04:35 AM PDT by yesthatjallen
New York Federal Reserve President John Williams said he doesn’t see full economic growth returning to the U.S. in 2020.
While he sees pockets of the economy, such as construction, coming back, he expects people to continue to be reluctant to attend big public gatherings.
New York Federal Reserve President John Williams told CNBC on Friday he sees some parts of the economy coming back online but doubts growth will return to normal this year.
Construction should be among the first to return, he said in a “Squawk Box” interview with Steve Liesman. That echoed comments from Philadelphia Fed President Patrick Harker, who spoke to CNBC on Thursday.
“I expect that to be able to bounce back a little bit more quickly than maybe some of the other sectors,” Williams said. “But I don’t see the economy getting back to full strength by the end of the year.”
The central bank official spoke ahead of what looked like a big day on Wall Street.
SNIP
(Excerpt) Read more at cnbc.com ...
If we stick to that fustercluck of a plan that was presented yesterday he’s right.
‘but doubts growth will return to normal this year.’
gee, ya think...?
OK, agree or not, that's an A++ way to describe it! I'm gonna write that down.
Not with that attitude, no.
Full growth? It’d be nice, but if start it moving, it’ll be well on its way by then, even if it takes a couple extra quarters to get there.
there’s no reason why retail can’t recoup, manufacturing and construction is really unaffected if the bans are lifted... as for entertainment, MLB, NBA, NFL, NCAA, the sooner they die a natural, or unnatural death, the better it suits me.
If we stick to that fustercluck of a plan”
Well that’s what we are getting. It was the only way to get Dr Doom and Deborah to sign on. A consequence of this hitting in the middle of an election year. Trump needs cover if the virus comes back hard. Much of what is happening is because the MSM/DNC is waiting for the least misstep to use to destroy the President. So caution wins the day. Frustrating as hell.
I think if they opened sports stadiums tomorrow, they would probably fill up. I don’t think people will be as reluctant as they think. A large portion of people think this is incredibly overblown, and will stop worrying about it.
Gee, when W was running for president, the media told us it was bad to try and talk down the economy...
Common sense would say that. Best case scenario is an economy which is improving from the crash but still far away from where it was.
That comes with the ridiculous treatment the economy is suffering at the hand of our elected/appointed morons.
I think if those who are supposed to know what they are doing get out of the way, the economy might surprise everyone.
The democrats are thinking that too and that is why they are reluctant to step aside.
Trump’s new platform is MAGA 2.0
There are 30 states that had little effect from the virus. They can hit the gas, and most of the governors are going to want to do it.
The rest will catch up.
The virus will be in the rear view mirror by July 4.
another talking douchebag heard from
> “New York Federal Reserve President John Williams ...”
The New York Federal Reserve is the de facto Federal Reserve which is not federal.
However, to take down the Federal Reserve, it is first necessary to nationalize it which is now underway.
The more anti-growth and anti-employment regulations that get canceled, the faster we will recover. Cancel them all and the economy will rocket into space.
FEB 21 - 29146
MAR 24 - 18213
APR 17 - 23880 at 1124am EDT
That's up 5600 points from the low, with 5300 to go.... more than half of the Covid Collapse erased in just 3 weeks, even before any Stay At Home Orders are lifted.
Also note: The opening on JAN 4 2019 was 22884, so we are up 1000 points from then... up 4.3% in just over a year... still exceeding Obama's promised New Normal of 1.8% annual GDP growth... even in the middle of the worst collapse in modern times.
It doesn’t have to be back to “full strength” by the end of the year. All it has to do is be seen to be growing and adding jobs. Once the layoffs stop, which will happen shortly and the economy begins to open up the jobs gains will be immediate and very strong. Just as we saw jobs losses in the millions week over week you will see jobs gains in the many hundreds of thousands to perhaps a million or more on a month to month basis.
Whoremongering Press-types tried to get him to tell people to back down but he refused to even answer the question. That was a great non-answer.
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