Why the US economy won’t gain any traction until 2021

This has been a rotten year, and any chance of it ending on a high note has faded. The Covid-19 pandemic is intensifying, rancor over the US presidential election is mounting, and lawmakers haven’t come to terms on another fiscal rescue package to shore up the fragile economy. It is difficult to see how the economy will be able to gain any traction until next year when the pandemic and election are hopefully in the history books. The economy’s travails are evident in the Back-to-Normal index (BNI) developed by Moody’s Analytics and CNN Business. The index is a compilation of a wide range of economic statistics … (full story)

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