Fed's Bullard: US economy past initial shock from coronavirus pandemic

Author: Greg Michalowski | Category: Central Banks

Fed's Bullard speaking on FOXBusiness

  • main impact from coronavirus to US economy will be in the 2nd quarter
  • US economy past initial shock from coronavirus pandemic
  • sees unemployment rate under double digits by end of the year
  • 2nd quarter growth could be -40%
  • sees unemployment rate under double digits by end of year
  • says that J.P. Morgan will have a substantial increase in credit reserves in Q2 but not in Q3 and Q4
  • if negative economic impact from Covid 19 last the end of 2022, banks will pull back on lending
See here for global coronavirus case data
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