We’re already giving thought to what the world will look like when we’re past the worst of the coronavirus.
There is no question that the federal government has aggressively inserted itself into the middle of the COVID-19 recession. In March and April alone, the announced economic support and rescue programs exceeded $5.6 trillion—26% of gross domestic product (GDP).1 This does not include the Federal Reserve’s reinstatement of massive quantitative easing.
Head of Fixed Income Gary Pzegeo breaks down the latest FOMC announcement.