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VWAGY - Wall Street Breakfast: Fears Of A Ballooning Deficit
Volkswagen AG ADR Repstg 1/10th Sh
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A new study by Morgan Stanley estimates the U.S. deficit will total at least $3.7T in calendar year 2020 and an additional $3T in 2021, financed by the sale of Treasurys, largely to the Federal Reserve. If the economy shrinks this year, the fiscal deficit relative to the size of the economy could even approach 15% to 20% (those numbers haven't been seen since WWII). On top of