Aberdeen Standard Investments: Stappen VS niet voldoende om recessie tegen te gaan
Hieronder vindt u het commentaar van James McCann, hoofdeconoom bij Aberdeen Standard Investments, op het Amerikaanse stimuleringspakket van $ 2 biljoen.
‘By any measure this is a huge stimulus package. One thing that it cannot stop is the recession that is coming. But it should hopefully act as a firewall to slow the spread of this crisis through the economy and prevent it from seizing up the financial system.’
‘Whether this package ultimately is enough depends in large part on how long the lockdown lasts. We’ve seen President Trump already pushing to relax the lockdown because he knows much of his bid for re-election hinges on the strength of the economy. He is painted into a corner. Relaxing the lockdown would almost certainly put lives in jeopardy and could do even more damage in the long term. However, his economic record looks less and less credible the longer the current shutdown goes on.’
‘Regardless, if the economic data in coming weeks is much worse than current predictions, this package could end up not being enough and Congress will find itself back at square one. We’ve already seen unsettled markets overnight off the back of fears about the speed of the pandemic’s spread. The challenge for the stimulus package is keeping pace with the pandemic.’