SFY - #MacroView: The Fed Is Permanently Stuck At Zero

May, 04 2020 03:33 AM SoFi Select 500

The Fed is now permanently stuck at zero

The negative 4.8% decline in GDP in the first quarter was stunning. Importantly, that reading only encapsulated the impact of the economic "shutdown" in that last two weeks of the quarter. This suggests, considering the entire month of April (1/3rd of the quarter) was a wash, the numbers will worse next quarter.

The NYT's Ben Casselman had a good summary of the devastation:

"U.S. gross domestic product fell at a 4.8 percent annual rate in the first quarter of the year, the Commerce Department said Wednesday

Company Name:	SoFi Select 500
Stock Symbol:	SFY
Market:	NYSE

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The Fed is now permanently stuck at zero