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Janet Yellen warns coronavirus-hit US economy could contract 30% next quarter, says unemployment might already be 13%

1 month ago   |   By Business Insider

Former Federal Reserve Chair Janet Yellen said that US GDP could slump 30% in the second quarter amid coronavirus in a Monday interview with CNBC .
In addition, the unemployment rate might currently be 12% or 13% and moving higher, Yellen said.
A V-shaped recovery is still possible, but Yellen worries that the outcome will be worse.
Visit Business Insider's homepage for more stories .
Former Federal Reserve Chair Janet Yellen said that the US is experiencing a "huge unprecedented, devastating" hit from the coronavirus pandemic in a Monday morning interview with CNBC.
The US economy could...
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Credit Suisse says the US economy will shrink 33.5% next quarter, the biggest drop in history

Credit Suisse says the US economy will shrink 33.5% next quarter, the biggest drop in history

1 month ago   |   By Business Insider

Credit Suisse expects that US gross domestic product will fall 33.5% in the second quarter amid the coronavirus pandemic, according to a Monday note.
The US economy is on track for its worst quarter on record going back to 1945.
Still, the bank expects the economy to bounce back in a "soft-v" shape in the second half of the year, according to the note.
Visit Business Insider's homepage for more stories .
Credit Suisse is forecasting a record drop in US gross domestic product this quarter as the coronavirus pandemic continues to slam the economy.
The bank expects second quarter GDP to...
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Facebook just launched a new tool that makes it easier than ever to delete...

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'We don't know any more than you know': Lawmakers in the dark about how...

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LIVE UPDATES: Follow the results of Maryland's congressional primary

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An 'ANTIFA' Twitter account that called for looting 'white hoods' was...

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