“The country may well be in recession,” said Jerome Powell, the head of the Federal Reserve.
Does the U.S. economy already have tipped into recession ? Jerome Powell, President of the United States Federal Reserve, said shortly before the publication of sharply rising weekly registrations to a record 3.283 million against a previous record of 695,000 established almost 40 years ago, that c was likely, but the priority was to control the spread of the pandemic of coronavirus. He added that activity should resume in the second half of 2020 and that the Fed still has room for maneuver to act.
American banking giants Goldman Sachs, JP Morgan and Morgan Stanley are forecasting falls of between 24 and 30% (annualized) of US GDP in the second quarter. And Treasury Secretary Steve Mnuchin warned that the unemployment rate could soar to 20%, twice the level of the peak of the 2008-2009 crisis! It must be said that applications for unemployment benefit know a record flight…
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