What will be the economic impact of COVID-19 (and should we care)?

Unchallenged
Apr 18, 20

Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter of 2020.

This is because of shutdowns to combat the 2019 coronavirus, leading to an unprecedented 50% drop in gross domestic product. Psychologists note that losing a job often feels like losing a loved one—so this economic damage is doing financial and psychological harm to people.

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