The indicators around manufacturing output and similar were blinking as early as 2018 - a big reason why Powell started cutting rates, along with rising WH pressure heading into an election year, to get ahead of it
That said, a mid-to-late 2020 recession in a no-COVID scenario is probably more of a 2001 (pre-9/11) type contraction, maybe a smidge worse if short of 1990-91, than another 1982 or 2008
The indicators around manufacturing output and similar were blinking as early as 2018 - a big reason why Powell started cutting rates, along with rising WH pressure heading into an election year, to get ahead of it
That said, a mid-to-late 2020 recession in a no-COVID scenario is probably more of a 2001 (pre-9/11) type contraction, maybe a smidge worse if short of 1990-91, than another 1982 or 2008
The indicators around manufacturing output and similar were blinking as early as 2018 - a big reason why Powell started cutting rates, along with rising WH pressure heading into an election year, to get ahead of it
That said, a mid-to-late 2020 recession in a no-COVID scenario is probably more of a 2001 (pre-9/11) type contraction, maybe a smidge worse if short of 1990-91, than another 1982 or 2008