Jobs, business, liquidity: How the US is preparing for recession due to coronavirus
Posted at Mar 26 08:33 AM
One Federal Reserve official has said the unemployment rate could hit 30 percent, 3 times its level at the worst point of the 2008-09 Great Recession. And he has suggested that GDP could fall at a 50 percent annual rate next quarter, which would be 5 times worse than the worst single quarter on record. Economic forecasters at major banks differ in degree, not direction, of the disaster facing the US economy.
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