'The deepest recession on record': Bank of America slashes forecasts, now sees up to 20 million jobs lost, 15.6% unemployment, and a shrinking economy for 3 straight quarters

 

· Bank of America now expects that US gross domestic product will contract for three quarters, with a cumulative decline of 10.4%, according to a Thursday note. 
· The bank also foresees as many as 20 million jobs could be lost due to the crisis, sending the unemployment rate to a high of 15.6%. 
· "This will be the...