DBCF Virtual Symposium

Conclusion • The US economy likely bottomed out in May…the Q2 drop in GDP is the largest known quarterly decline in US history • The CBSI indicates that bankers are still unsettled, concerned mainly about future regulatory burden • The shapes of economic recessions/recoveries are many and varied, and UNCERTAINTY remains the greatest current concern: virus, consumer behavior, business reopenings, policy responses • High-frequency data help us better understand real-time shifts in expectations and economic activity