Why The Recovery Will Fall Short Of Forecasts

If the historical relationship between labor and PCE holds up, and consumption continues to be the predominant contributor to GDP, we should not expect GDP to regain prior highs until 2025...

  • Jun 3, 2020 1:25 PM

There's No End In Sight To The Zombie Economy

Should the central bank refrain from embarking upon a prescription of tightening, a new type of economy will be born: the anti-productivity economy, comparable to Japan in the 1990s and China today...

  • Jun 2, 2020 4:45 PM