Budget officer Yves Giroux previously estimated the federal deficit at $252.1 billion this fiscal year on account of a sharp increase in spending on emergency aid and a subsequent drop in economic activity related to the COVID-19 pandemic.
BNN Bloomberg spoke to Jennifer Keesmaat, former chief planner for the City of Toronto and chief executive officer of The Keesmaat Group, in a phone interview on what this means for the future of urban planning.
Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. economy will recover from the highest unemployment since the 1930s with a rapid rebound that will push the jobless rate below 10% by December.
Jamie Dimon sees “pretty good odds” of a fast economic rebound starting in the third quarter thanks to the U.S. government’s stimulus programs and the strength of the consumer going into the pandemic.
U.S. consumer confidence stabilized in May, indicating Americans are optimistic that the economic drubbing from the coronavirus pandemic will be short-lived.
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