JP Morgan economist says U.S. GDP could drop 14% in second-quarter

Reuters/Ann Saphir/3-18-2020

“A drop of that size would be steeper than in the fourth quarter of 2008 – the worst of the Great Recession – when the economy shrank 8.4%. That is assuming the Federal Reserve will continue to find ‘creative’ ways to support the economy and that the Trump administration and Congress deliver $1 trillion in fiscal support, according to the bank’s U.S. chief economist, Michael Feroli.”

USAGOLD note:  “Uhm……Did this flashy convertible come with a parachute?”