Previewing Special Economic Commentary No. 1444

Soaring Gold and Silver Prices, and a Weakening U.S. Dollar
Increasingly Foreshadow Potential Hyperinflation and Systemic Instabilities

Reporting of Deepest-Ever GDP Decline Looms on July 30th

Annualized 49.1% (-49.1%) Quarterly Plunge in Household Survey Employed
Was Consistent With a Real Second-Quarter 2020 GDP Annualized
Collapse of 50% (-50%) and Year-to-Year Drop of 16.1% (-16.1%)

Potential Third-Quarter 2020 GDP Annualized 20% Rebound
Still Would Be Down 12.7% (-12.7%) Year-to-Year,
Rivaling Great Depression Depths and Post-World War II Readjustment

Economic Recovery Will Be Protracted