In one word: heartbreaking. Friday’s U.S. jobs report is forecast to show employers slashed about 22M jobs in April, nearly erasing decade of job gains in a single month as country shut down to control spread of coronavirus. That’s 27x worst monthly decline during GFC.
@business
The idea that the Fed should try to offset the damage done to the U.S. economy by the trade war is wrong. Two wrongs never make a right. Artificially low interest rates have been undermining the U.S. economy for years. Lowering them further will just inflict even more harm.