Submitted by Taps Coogan on the 19th of May 2020 to The Sounding Line.
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Evercore ISI Chairman Ed Hyman, one of the fathers of modern market research and perennially ranked as one of the top institutional economic advisors in the world, recently spoke with WealthTrack’s Consuelo Mack. He notes that the US economy is “contracting at a viscous pace,” likely shrinking around 40% between the first and second quarter when measured at an annualized rate. That being said, he says his sentiment surveys have now been improving for four consecutive weeks and that we have “between three to five times more stimulus now than we had in 2008 and 2009.”
He also makes a point which we have tried to make here on The Sounding Line on a few occasions: “There will be an end to this… In an economic collapse, there is no particular end to it. You don’t think of a silver bullet that’s gonna improve the situation in a housing collapse… In this case, there is a chance we get a therapeutic and there is a good chance that we get a vaccine… There are many things that could go terribly wrong and in response to that, the Fed has pulled out all the stops…“
Enjoy the full interview below:
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