The latest letter from the San Francisco Fed....>

FED: The latest letter from the San Francisco Fed notes that "the pandemic

caused by COVID-19 represents an unprecedented negative shock to the global

economy that is likely to severely depress economic activity in the near term.

Could the crisis also put substantial downward pressure on price inflation? One

way to assess the potential risk to the inflation outlook is by analyzing prices

of standard and inflation-indexed government bonds. The probability of declining

price levels-or deflation-among four major countries within the next year

indicates that the perceived risk remains muted, despite the recent economic

turmoil."

- Link: https://tinyurl.com/ybp9tye7