More than 6.6 million Americans have filed for unemployment claims in the past week, and they’re spreading into new industries. The Fed will make $2.3 trillion more available to backstop the economy. President of the Boston Fed surveys the economy.
The number of people filing for unemployment is starting to sound more intense than even the Great Recession of a dozen years ago.
“Until we have a vaccine and people are completely comfortable, the duration and severity of this downturn are hard to determine,” Boston Fed President Eric Rosengren said.
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