White House economic adviser Kevin Hassett told ABC’s “This Week” that the coronavirus pandemic is “really grave situation”, and the “biggest negative shock” that the US has “even seen”. He added, “unemployment rate is going to jump to a level probably around 16 percent or even higher in the next jobs report.”
Q2 GDP contraction would be a “big number” and “the next couple of months are going to look terrible”. “We’re going to need really big thoughtful policies to put together to make it so that people are optimistic again,” Hassett added.
“I’m sure that over the next three or four weeks, everybody’s going to pull together and come up with a plan to give us the best chance possible for a V-shaped recovery,” Hassett said. And, “I … don’t think you get it if we don’t have another round of really solid legislation.”
