MARKETS Global stocks reel on gloomy Fed outlook
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Posted On: 06/11/2020 6:26:24 AM
MARKETS
Global stocks reel on gloomy Fed outlook and fears of a second coronavirus wave
PUBLISHED THU, JUN 11 20205:14 AM EDTUPDATED AN HOUR AGO
Elliot Smith
KEY POINTS
The U.S. Federal Reserve forecast a 6.5% contraction in U.S. gross domestic product for 2020, with a 5% rebound in 2021 and 3.5% growth in 2022.
The possibility of a second wave has emerged as a genuine threat in recent days, with reports of spiking cases and hospitalizations in California, Arizona, Texas and Florida after states began lifting lockdown measures.
Global stocks reel on gloomy Fed outlook and fears of a second coronavirus wave
PUBLISHED THU, JUN 11 20205:14 AM EDTUPDATED AN HOUR AGO
Elliot Smith
KEY POINTS
The U.S. Federal Reserve forecast a 6.5% contraction in U.S. gross domestic product for 2020, with a 5% rebound in 2021 and 3.5% growth in 2022.
The possibility of a second wave has emerged as a genuine threat in recent days, with reports of spiking cases and hospitalizations in California, Arizona, Texas and Florida after states began lifting lockdown measures.
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