How did Federal Reserve chair Jerome Powell describe the outlook for the second quarter?
Nearly 3.2 Million Americans Filed For Unemployment Last Week
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The video discusses the recent unemployment claims in the US, with 33.5 million people filing over seven weeks, representing about 1/5 of the workforce. It highlights the loss of over 20 million jobs in the private sector, mainly in services. The US GDP fell by 4.8% in the first quarter, the worst since the Great Recession. Federal Reserve Chair Jerome Powell warns of worse economic data in the second quarter due to the pandemic's impact.
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What are some consequences mentioned that are related to the disease and the measures taken to protect against it?
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