
Flextronics International Apple factory employees work on Apple Mac Pro computer assembly in Austin, TX, US
According to his projections, the US unemployment rate could hit 30 percent in Q2 as a result of massive shutdowns to combat the virus.
Bullard has called for a powerful fiscal response to replace the $2.5 trillion in lost income to assure a strong eventual US recovery. He said that the Fed should be poised to do more to ensure markets function during a period of high volatility.
"This is a planned, organized partial shutdown of the US economy in the second quarter," he told Bloomberg. "The overall goal is to keep everyone, households and businesses, whole" with government support. "It is a huge shock and we are trying to cope with it and keep it under control."














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