Economy Officially in Recession

The US is officially in a recession, economists have declared, but there’s some good news, too. US stocks actually rallied on the announcement, pushing some indices to record highs and effectively erasing 2020 losses. Airline stocks are also rising as Americans prepare to take to the skies again, hopefully signaling an end to months of near-paralysis in the industry. All in all, this strong start to the week is a continuation of the remarkable turnaround for US stocks, which plunged into a bear market in mid-March. The Federal Reserve is set to meet tomorrow to discuss any future plans to shore up the economy. Some economists want the Fed to send interest rates below zero, which would be an aggressive move to kick-start a recovery.

Bill Fuller

Bill Fuller

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