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IMF Delivers Dour New Economic Projections. Says This Is ‘Crisis Like No Other’
To be sure, it's no surprise that the IMF slashed its outlook for global growth on Wednesday.
The downgrade was a foregone conclusion as the world comes to grips with the impact of the pandemic. And even if it weren't for the virus, cuts to the fund's forecast have been a quarterly tradition for quite some time.
The new projections show the global economy contracting 4.9% in 2020, down sharply from the 3% seen in the April update. In addition, the rebound is expected to be less robust, with gr
“The fund notes that risk assets may be out of touch with economic reality:”
For how long … For …. how … long?
James T Kirk
My guess is when either a vaccine or competent therapy is apparent. Either would allow a return to normalcy. My thinking is that a competent therapy is more likely and will not be one magic bullet. Normalcy will allow reduction of controls and withdrawal of some stimulus.