Succinct Summary: This has been an incredibly difficult operating environment but we're all learning to live in a world with Covid. Economic activity is much better than anyone expected and government officials are pushing for even more stimulus. The Fed expects to keep interest rates at zero until 2023. Editor's Request: This weekly newsletter is made possible by donations from our readers. If you like what you are reading, click here to donate (Our suggested donation: $10 per month). Help us keep The Transcript going.
Succinct Summary: The Covid-19 pandemic is an unprecedented global challenge unlike anything that we've seen for 100 years. It is like a war with an invisible enemy. It requires coordination and cooperation from all of us. Many industries like airlines and restaurants are seeing their businesses disappear overnight. But the economic impact is nothing compared to the human impact if we don't act. Hospital systems are already being stretched to their limits and the worst may still be ahead. Let's hope not. Our best hope of averting that fate is to buy ourselves time via social distancing and break down regulatory barriers for potential treatments. (Go to Covidactnow.org to see how important social distancing is in the US).