He has a point
At some point we're going to get a vaccine and the economy will be largely back to 'normal'. At the same time, I don't see governments rapidly pulling back spending.
So that tees up a strong recovery at some point down the road. I think it will be bumpy in Q4 and in H1 of 2021 but in 2022 the economy should start to get its legs. I think we'll see inflation start to accelerate then but if the Fed keeps its word then there will be no rate hikes on the horizon. That would set up a powerful paradigm.
