Citing "in recent weeks the spread of COVID-19 has threatened the economic outlook for the US economy."
- virus will weigh on the US economy for some time yet
- virus' factor - supply disruptions
- early signs of slowing growth in discretionary spending
- Businesses are also likely to respond to these developments by suspending hiring and, possibly, reducing employment costs.
- consumer is expected to be particularly vulnerable to these developments
IN brief from a longer note.
Dire stuff.