Most US economic indicators point to a continued deterioration due to America’s failure to control the Covid-19 pandemic.
The US will continue to need massive government stimulus financed by the Federal Reserve’s balance sheet, which is up by $3 trillion to $7 trillion since February. It is expected to grow to $10 trillion by year-end to maintain consumption levels, according to Bank of America Global Research. Congress has so far failed to agree on a new stimulus package.
Consider the gloom and doom data: