Unemploymentcould reach 30% in the U.S., says St. Louis Fed’s Bullard; That’s Federal Reserve Bank of St. Louis President James Bullard explaining to Bloomberg News why he sees the U.S. unemployment rate hitting 30% in the coming months as the world continues to grapple with the coronavirus pandemic. If his gloomy jobs projection proves to be true, unemployment would be worse than it was during the Great Depression and three times worse than the 2007-’09 recession, according to Reuters. Bullard also said he expects an unprecedented 50% plunge in gross domestic product. “Everything is on the table,” he said, referring to additional lending programs from the Federal Reserve. “There is more that we can do if necessary... There is probably much more in the months ahead depending on where Congress wants to go.”
http://www.marketwatch.com/story/unemployment-could-reach-30-in-the-us-says-st-louis-feds-bullard-2020-03-22
http://www.bloomberg.com/news/articles/2020-03-22/fed-s-bullard-says-u-s-jobless-rate-may-soar-to-30-in-2q?mod=article_inline
http://www.reuters.com/article/us-health-coronavirus-fed-bullard/feds-bullard-coronavirus-shutdown-not-a-recession-but-an-investment-in-survival-idUSKBN2190FT?mod=article_inline
