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Federal Reserve Chairman Jerome Powell warns that the COVID-19 pandemic could result in a long-term recession and urges additional action by Congress and the White House to prevent it.
The median forecast of the National Association for Business Economics survey calls for annualized real GDP growth of -2.4% in Q1 and -26.5% in Q2 2020. After modest growth of 2% in Q3, the median forecast calls for growth to strengthen to 5.8% in Q4 and 6% in Q1 2021.
"If aerospace turns over, then Connecticut has a big problem," said Traynor about tariff-induced obstacles to manufacturing's growth.