“The 10-Minute Take” is a new podcast series dedicated to providing insights from RBC economists and market experts on events unfolding around the globe.
Washington seems to finally have bipartisan agreement for a $2-trillion stimulus package. Tom Porcelli, RBC Capital Markets Chief U.S. Economist, says it’s enough to “backfill” the U.S. economy until mid-May. How will the world’s economic engine fare after that? That depends on the success of social distancing. But Porcelli thinks the creatively-driven U.S. economy – from media streaming to food services – could be more resilient than markets have assumed. And if U.S. consumers come out of lockdown and unleash their pent-up demand, the world will notice.
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