05-17-2020, 11:42 PM
If we get r-e-a-l lucky.
Fed's Powell: 'Medical metrics' most important data for U.S. economy now: CBS
WASHINGTON (Reuters) - The most important data for the U.S. economy right now are the “medical metrics” around the coronavirus pandemic, Federal Reserve Chairman Jerome Powell said Sunday night in broadcast remarks where he outlined the likely need for three to six more months of government financial help for firms and families.
https://www.reuters.com/article/us-usa-f...SKBN22T0KM-
The economic devastation already has been severe. Powell said unemployment may hit 25% before it begins to fall, and gross domestic product may contract at an annualized rate of perhaps 20% in the April through June period. Those are levels reminiscent of the Great Depression in the 1930s, though Powell said he thought a prolonged crash of that magnitude remains unlikely.
“Assuming there is not a second wave of the coronavirus, I think you will see the economy recover steadily through the second half of this year,” he said. “For the economy to fully recover people will have to be fully confident and that may have to await the arrival of a vaccine.”
Fed's Powell: 'Medical metrics' most important data for U.S. economy now: CBS
WASHINGTON (Reuters) - The most important data for the U.S. economy right now are the “medical metrics” around the coronavirus pandemic, Federal Reserve Chairman Jerome Powell said Sunday night in broadcast remarks where he outlined the likely need for three to six more months of government financial help for firms and families.
https://www.reuters.com/article/us-usa-f...SKBN22T0KM-
The economic devastation already has been severe. Powell said unemployment may hit 25% before it begins to fall, and gross domestic product may contract at an annualized rate of perhaps 20% in the April through June period. Those are levels reminiscent of the Great Depression in the 1930s, though Powell said he thought a prolonged crash of that magnitude remains unlikely.
“Assuming there is not a second wave of the coronavirus, I think you will see the economy recover steadily through the second half of this year,” he said. “For the economy to fully recover people will have to be fully confident and that may have to await the arrival of a vaccine.”