Same as it Ever Was
While the markets continue to push record highs, multiple risks to growth remain. These include delays to and unintended consequences from stimulus. Even though the Federal Reserve has taken steps to reduce market interventions the central bank’s actions remain a critical driver of asset prices.
As such, economic indicators remain tied to fiscal and monetary stimulus rather than market forces, until that changes the outlook remains bearish.
THE 375 PARK COVID MODEL CURRENTLY FORECASTS ~ 47.7 MM CASES AND A cCFR of 1.2% IN THE U.S. BY THE END OF JUNE ‘21