50 million Job Losses Ahead?, Oil Plunges, Promising Vaccine News, and the Fed’s unintended Mortgage Mess.
New data from the Federal Reserve suggests the coronavirus could lead to nearly 50 million job losses and an unemployment rate of 32%. We look at the potential fallout for the markets and the economy. Oil drops below $20 a barrel overnight. This as world demand is forecasted to plunge 20% from last year. Are bankruptcies inevitable at this point? We’ll ask. Plus, shares of Johnson & Johnson higher on news that the company could have a vaccine ready in record time. Abbott Labs announcing some positive news of its own. We get you caught up with all the latest drug headlines. And, the Fed’s effort to help the mortgage market could end up having the opposite effect. We’ll tell you why.
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Show Notes
New data from the Federal Reserve suggests the coronavirus could lead to nearly 50 million job losses and an unemployment rate of 32%. We look at the potential fallout for the markets and the economy.
Oil drops below $20 a barrel overnight. This as world demand is forecasted to plunge 20% from last year. Are bankruptcies inevitable at this point? We’ll ask.
Plus, shares of Johnson & Johnson higher on news that the company could have a vaccine ready in record time. Abbott Labs announcing some positive news of its own. We get you caught up with all the latest drug headlines.
And, the Fed’s effort to help the mortgage market could end up having the opposite effect. We’ll tell you why.
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