Boston Federal Reserve Bank President Eric Rosengren said social distancing efforts meant to contain the coronavirus outbreak have"stilled" the economy and could lead the unemployment rate to"rise dramatically."
"Today, we're witnessing the pandemic's stark effects on public health. Meanwhile, the necessary response – socialdistancing – has stilled our strong economy, disrupting countless lives and livelihoods," Rosengren said in remarks prepared for a virtual talk Wednesday afternoon."It's also been distorting the credit and liquidity flows that underpin our economy, threatening the greater pain of a full‐blown financial crisis.
Oh ! So, tell me something new!
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bostic: Fed programs could be broadened if they have missed important parts of economyAs U.S. officials role out trillions of dollars in new economic support, a Federal Reserve policymaker on Monday said focus will now shift to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Coronavirus: Fed will do 'whatever it takes' to help US economy likely in recession, says DalySAN FRANCISCO (REUTERS) - The Federal Reserve is ready to do more to help a US economy ground to a sudden halt as businesses shutter and people stay home to slow the coronavirus pandemic, San Francisco Fed president Mary Daly said on Tuesday (March 31).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Coronavirus: Fed will do 'whatever it takes' to help US economy likely in recession, says DalySAN FRANCISCO (REUTERS) - The Federal Reserve is ready to do more to help a US economy ground to a sudden halt as businesses shutter and people stay home to slow the coronavirus pandemic, San Francisco Fed president Mary Daly said on Tuesday (March 31).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
US unemployment offices sitting on mountain of pending claimsLast week's record-setting US jobless claims number will be quickly surpassed, economists and state officials predict, as local labour offices ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Goldman Sachs slashes second quarter US GDP estimate furtherGoldman Sachs said on Tuesday that the U.S. second quarter economic decline would be deeper than it had previously forecast and unemployment would ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Bostic: Fed programs could be broadened if they have missed important parts of economyAs U.S. officials role out trillions of dollars in new economic support, a Federal Reserve policymaker on Monday said focus will now shift to ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »