Photo: Getty ImagesThe shuttering of the US economy due to the coronavirus pandemic is a shock of historic proportions. "It's a really grave situation," President Donald Trump's adviser, Kevin Hassett, told the ABC program This Week. "This is the biggest negative shock that our economy, I think, has ever seen. We're going to be looking at an unemployment rate that approaches rates that we saw during the Great Depression [of the 1930s]," Hassett added. Lockdowns across the United States to curtail the spread of the novel coronavirus have hammered the economy, shuttering businesses and sending unemployment skyrocketing.

Source: Otago Daily Times April 27, 2020 01:52 UTC