Fed offical warns that unemployment may hit 30%

[RandomPoster]

The worst unemployment rate during the great depression was 25%.

"On top of that, a U.S. central bank official estimated that the unemployment rate could surge from just over 3% to 30% at its peak as businesses shutter in an effort to clamp down on the spread of the deadly illness."

Dow books nearly 600-point drop as Fed efforts overshadowed by rising U.S. coronavirus cases, stalled aid legislation

U.S. stocks finished lower Monday as investors kept a focus on the economic damage from the rapidly spreading coronavirus, despite the Federal Reserve’s...

www.marketwatch.com

 

[LordBrownTrout]

The entire world is collapsing.

 

[WTH_Progs?]

Anyone surprised? Some asshole economists are claiming "won't be as bad as 08-09".....Yeah fucking right, they didn't close casinos in 08-09. This is the next thing to the great depression. Hopefully we'll pull out of it soon.

 

[lennypartiv]

Great. Once a Democrat gets laid off they become welfare queens and don't even try to find another job.