Economics
U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says
- St. Louis Fed chief calls for maximum support for economy
- ‘Everything is on the table’ for Fed to provide support
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Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the coronavirus, with an unprecedented 50% drop in gross domestic product.