John Tamny: The Fed can’t “save” the U.S. economy any more than the Soviet Union’s central bank could save theirs.

Policy and Government

In the NY Post, John Steele Gordon warns people won’t be able to return to their jobs as usual after a prolonged shutdown.

Steve Forbes takes questions from his daughter Moira Forbes.

AIER warns of those promoting socialism under the guise of pandemic.

A Barclay bank scenario assuming “more intense” containment “anticipates a very deep Q2 GDP decline (-50% q/q saar), followed by a more “L” shaped recovery. GDP ends the year down 12%, with the unemployment rate at 10% after peaking at 20% in Q2.

Monetary

On Real Clear Markets, John Tamny says the Fed can’t “save” the U.S. economy any more than the Soviet Union’s central bank could save theirs.

Fed’s balance sheet knocking on $6 trillion.

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