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Posts tagged as “support”

US unemployment may soar to 30% with 50% drop in GDP, Fed can provide ‘unlimited support’

US unemployment may soar to 30% with 50% drop in GDP, Fed can provide ‘unlimited support’ The United States is expected to see an unprecedented 50 percent drop in gross domestic product in the second quarter due to coronavirus outbreak, says Federal Reserve Bank of St. Louis President James Bullard. According to his projections, the US unemployment rate could hit 30 percent in Q2 as a result of massive shutdowns to combat the virus. Bullard has called for a powerful…

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