Fed Evans says this recession is unique in swiftness, severity, and scope
Apart from that, how is 2020 going?
- current situation is without modern precedent
- people affected by this crisis will require new policies to help them make it through the downturn
- not all businesses will survive after virus subsidies
- many workers will have to find new employment
- effects of crisis not felt equally across racial groups, simply returning to levels in February will not be enough
Chicago Fed chief Charles Evans