Fed Offers Grim Outlook, With High Unemployment for Years
https://www.nytimes.com/2020/06/10/business/stock-market-today-coronavirus.html?action=click&module=Top%20Stories&pgtype=Homepage#link-77131e25
In their first economic projections this year, Fed officials indicated that they expected the unemployment rate to end 2020 at 9.3 percent and remain elevated for years, coming in at 5.5 percent in 2022...Output is expected to be 6.5 percent lower at the end of this year...
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The new forecasts predict a much slower path back to economic strength than the Trump administration — and perhaps the stock market — seems to expect...
https://www.nytimes.com/2020/06/10/business/stock-market-today-coronavirus.html?action=click&module=Top%20Stories&pgtype=Homepage#link-77131e25
In their first economic projections this year, Fed officials indicated that they expected the unemployment rate to end 2020 at 9.3 percent and remain elevated for years, coming in at 5.5 percent in 2022...Output is expected to be 6.5 percent lower at the end of this year...
...
The new forecasts predict a much slower path back to economic strength than the Trump administration — and perhaps the stock market — seems to expect...
