Unemployment May Increase in the USA!

Unemployment May Increase in the USA!

St. Louis Fed President James Bullard predicted that the unemployment rate in the United States, which is battling the epidemic along with the rapid spread of coronavirus around the world, could climb to 30 percent in the second quarter. GDP could fall 50 percent, according to Bullard. Bullard called for a strong fiscal response to replace the $ 2.5 trillion revenue that will disappear in the second quarter so that the US will recover strongly at the end of the day. Bullard stated that the Fed should be ready to do more to secure the functioning of the markets during the high volatility period. "Everything is on the table for the Fed, so we can do more in case of need within the current emergency authority. Much more will come in the coming months, depending on where the Congress wants to go," he said.