The economists do not deny that monetary easing is positive for the stock market. But they remind us that the unemployment data also conveys a valuable message about future corporate profitability. During recessions, the market concentrates on that message.
Of course, the stock market's reaction in early April and May does not guarantee that we are in a recession. However, it would be an exception to the historical rule for the economy to be expanding. Which way do you want to bet?
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