Federal Reserve Bank of St. Louis President James Bullard warned Friday that an extended shutdown of the U.S. economy to deal with the coronavirus crisis was ultimately unworkable and could lead to lasting, deep damage. The profound trouble in the economy “is mostly a second quarter phenomenon, and then we’ll start to recover and get back to normal in the second half of the year,” based on current estimates of the coronavirus health risks offered the health policy experts, Mr. Bullard said in an interview with The Wall Street...

Source: Wall Street Journal May 01, 2020 16:41 UTC