WASHINGTON: The uncertainty around the global coronavirus pandemic's duration and severity creates 'major downside risks' to the US economy, the ...
WASHINGTON: The uncertainty around the global coronavirus pandemic's duration and severity creates"major downside risks" to the US economy, the Federal Reserve said on Wednesday .
In the final two weeks of March, nearly 10 million people filed for unemployment benefits, and economists expect the jobless rate to hit double digits this month. Despite the severity of the current crisis, members of the Fed's policy-setting Federal Open Market Committee said the US economy and banking system were on solid footing.
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