- We expect another month of core PCE deflation, and exceptionally weak durable goods orders, but we also expect April personal income to be higher because of fiscal support.
- We expect a very deep recession due to COVID-19 and the Fed to implement its plans supporting a range of financial markets as the labor market remains extremely weak.
- Our overview highlights the key releases of US economic market data.
US Economic Weekly Key Insights
- US-China relations continue to deteriorate with developments in Hong Kong returning to focus.
- Actions taken by Congress and the Commerce Department highlight the complicated interplay between technology, trade and human rights and raise the risk of further US-China escalation.
- Chair Powell’s comments before Congress suggest we may receive additional detail on the Fed’s credit program start dates this week.
- On the data front, we look for another month of core PCE deflation and a fiscal stimulus-driven surge in personal income in April.
Read our full US Economic Weekly report here.
Contributor
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Lewis Alexander
Chief US Economist