How far can the economy fall? Fed's Bullard offers numbers to call for aggressive government response

How far can the economy fall? Fed's Bullard offers numbers to call for aggressive government response

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St. Louis Federal Reserve President Fred Bullard on Sunday said coronavirus-related shutdowns could force the U.S. unemployment rate to 30% in the second quarter, with 50% drop in gross domestic product. In an interview with Bloomberg, Bullard outlined ideas for an aggressive government response designed to buoy the American economy broadly, rather than focusing on bailouts of specific industries. “This is a planned, organized partial shutdown of the U.S. economy in the second quarter,” Bullard…

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