Investment Strategy
by Larry Adam
Chief Investment Officer, Private Client Group

Weekly Headings

March 27, 2020

Key Takeaways

Bridges are built to safety transport people over a chasm. In the absence of policymaker action, the US economy was facing a COVID-19-induced chasm. With over 20 states implementing shelter-in-home orders, and even more temporarily closing non-essential business, vast pieces of our economy came to a screeching halt. With economic conditions deteriorating, policymakers responded with speed and precision metaphorically creating bridges to get us to the other side. The US economy will likely struggle temporarily, but the combination of aggressive monetary policy and substantial fiscal stimulus should deter the worst case scenarios from occurring. These efforts will serve as a ‘bridge’ to a place not too far in the future (hopefully June) where the virus is contained, a therapeutic response is developed and the economy returns to normality.

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