The coronavirus is quickly taking a sledgehammer to the historically low unemployment rates that have defined much of President Trump‘s time in office.
The pandemic’s toll on the economy is now a key focus of Washington’s response to the growing public health crisis, with Congress and the White House scrambling to provide relief for struggling workers and businesses.
“It’s going to be a big problem,” said Jay Shambaugh, director of the Hamilton Project and a senior economics fellow at the Brookings Institution. “Unemployment is going to be where we see the economic damage, and is rising, frankly, faster than we expected just a week or two ago.” Continue reading.