Great Depression 2.0? US may be headed for HIGHEST UNEMPLOYMENT EVER ...United Arab Emirates

The coronavirus pandemic will push the US jobless rate even higher than it was during the Great Depression if all the gloomy forecasts are true, Roger Farmer, an economist at the University of Warwick, believes. Earlier this week, a US Federal Reserve official predicted that the outbreak will leave 30 percent of Americans jobless while the country’s gross domestic product (GDP) will fall by 50 percent. According to James Bullard, president of the St. Louis branch of the US Federal Reserve Bank, that could happen quite soon – in the second quarter of this year. Also on rt.com

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