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.
Jack Smith Gives Telling Non-Answer When Asked the Key Trump Question During Deposition
Colorado Man Sentenced to Prison in Nationwide Child Sexploitation Scheme – Given 1 Year for Each of His 84 Victims
China’s global aggression check: Taiwan tensions, military posturing and US response in 2025
Here are the top US cities Trump could target with National Guard deployments in 2026
Humiliating: CNN’s New Years Eve Show Descends Into Debauchery Yet Again
Even if Minnesota’s Somali-Owned Day Cares Aren’t Fraudulent, They Still Represent a Big Problem
Black Republican calls for total, permanent abolition of DEI: ‘I want to earn every opportunity on merit’
Homeless drifter accused of killing Barnes & Noble Christmas shopper blamed ‘fight or flight’ outburst: report
Repeat offender truck driver charged with bank robbery after claiming C-4 explosives, firing on officers: feds
Critics warn Minnesota legislation now taking effect is setting up the ‘next billion-dollar fraud’
Left-wing DC group coaches residents on how to ‘influence outcomes’ on a jury
New York City is about to test Mamdani’s progressive economic vision
The fall and rise of the Left’s premier dark money network
Newly Released Journal Pages Show Covenant School Shooter Chose Target Because She Hated Whites and Christians
Socialist Mayor Mamdani inaugurated alongside Bernie Sanders and AOC on New Year’s Day
“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.
