[In a telephone interview Sunday,] Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the coronavirus, with an unprecedented 50% drop in gross domestic product.
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“Everything is on the table” for the Fed as far as additional lending programs, Bullard said....
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Bullard urged that unemployment insurance cover 100% of lost income for workers, and call it “pandemic insurance” since the disruption is intended to block the spread of the coronavirus.
Link: https://www.bloomberg.com/news/articles/2020-03-22/fed-s-bullard-says-u-s-jobless-rate-may-soar-to-30-in-2q