Reuters/Lisa Lambert, Susan Heavey and Richard Cowan/4-24-2020
“U.S. gross domestic product will plunge by nearly 40% on an annualized basis in the second quarter, according to the nonpartisan Congressional Budget Office. But the CBO forecast an economic resurgence in the second half of the year, and said unemployment would crest at 16% but remain in double digits throughout 2021.”
USAGOLD note: This Reuters report captures the scope of the problem facing the federal government and the central bank in some hard, bleak numbers. A year ago this situation, about as dire as one could imagine, was not on anyone’s horizon ……
