Because it’s so far off from the projections. Now I have to believe that economists are into push-projections, like the political pollsters??
One potential reason the economists were off is that a lot of them work for far-left investment banks on Wall Street and are members of the far left themselves.
But fundamentally, they probably screwed up partly because the coronavirus and business shutdowns are Black Swans and there are no easy comparisons to use to predict how an economy will react to these circumstances.
The other matter to consider is the many regulatory burdens that President Trump has removed in recent years and months. Those vanished regulations might make it easier for businesses to open up and rehire workers.
It’s like trying to stand up with fewer weights to hold you down.