The unemployment rate in the U.S. could hit 30 percent, Federal Reserve Bank of St. Louis President James Bullard said in Bloomberg News interview.
“This is a planned, organized partial shutdown of the U.S. economy in the second quarter. The overall goal is to keep everyone, households and businesses, whole,” Bullard said. “It is a huge shock and we are trying to cope with it and keep it under control.”
That would be the highest rate of unemployment since the Great Depression.
Bullard said he expects economic growth to plunge 50 percent in the second quarter but for the economy to bounce back later in the year, so long as the appropriate measures are taken by the fiscal and monetary authorities.
Maduro and ‘Lady Macbeth’ Cilia Flores marriage spells ‘worst case’ custody scenario
Pilot dies alongside 3 nieces on wedding day in tragic Arizona helicopter crash
Trump and Musk share ‘lovely dinner’ at Mar-a-Lago after public feuding
Venezuelan President Nicolas Maduro’s narco case echoes US history of targeting alleged foreign drug kingpins
The Obama, Biden War on Coal Created an Energy Crisis: Trump’s Policies Are Already Fixing it
Trump issues direct warning to Venezuela’s new leader Delcy Rodríguez following Maduro capture
Now That’s a Low Blow: MTG Accuses Trump of Being a Fake Christian
Dems Push Beth Macy as the Liberal Answer to JD Vance, Say She’s ‘What Vance Could Have Been’
Bible Sales Skyrocket in 2025, Massive Spike Following Charlie Kirk’s Murder
American jailed for billionaire’s Monaco death, plot to kill wife exposed in long con, expert says
CNN Analyst: JD Vance Is Dominating the 2028 GOP Field and It’s Not Even Close
Venezuela still owes US energy companies billions as Trump calls for new investment
Elected Democrat Busted Breaking Into a Car, Charged with Burglary
CIA Launched a Christmas Eve Strike Inside Venezuela: Report
Resurfaced Footage Shows Leftist Minneapolis Mayor Speaking Somali, Dancing and Waving Somali Flag
“I would see the third quarter as a transitional quarter,” Bullard said. The next six months, however, could be very strong. “Those quarters might be boom quarters,” he said.
Bullard also said the Fed was far from being “out of bullets,” as some Fed watchers have claimed.
“There is more that we can do if necessary,” he said. “There is probably much more in the months ahead depending on where Congress wants to go.”
Story cited here.
