“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.
After one month of declines, 10,000 points off the Dow and a lot of “announcement indigestion,” RBC’s Chief Economist Craig Wright says markets are still searching for a bottom. They’re unsure of how to price so much new risk, all at once. Central banks are also struggling to assert themselves, while governments have not been able to get enough new money into the economy. Even when the trillion-dollar checks are cut, will consumers spend and businesses invest? Wright cautions, “It’s going to be a long, slow, painful period through the course of this year.”
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