Expect extended recovery following current U.S. recession
Some economists say it could take two years or more
- June 8, 2020 June 8, 2020
- 14:59
Some economists say it could take two years or more
The job gain stores and companies may be starting to rehire
Fed Chair Jerome Powell discussed new Main Street Lending program on Friday
20.5 million jobs vanished during the month
The program will also provide three-year loans, up from the two-year loans the Fed previously announced
Chairman Jerome Powell isn't expected to announce major new initiatives Wednesday
Economists forecast the unemployment rate for April could hit 20%
Another 5.2 million Americans sought unemployment benefits last week
The deterioration of sales outpaced the decline that took place during the depths of the Great Recession
The program will let central banks sell Treasurys to the Fed with an agreement to buy them back the next day