Texas/World – 27 April ’20

Trump’s focus on his base complicates path to reelection

Jill Colvin and Jonathan LeMire

Notre Dame Cathedral worksite refitted for virus safety

U.S. economy faces historic shock, with 16% joblessness possible, Trump adviser says

Tim Almann

WASHINGTON (Reuters) - The shuttering of the U.S. economy due to the coronavirus pandemic is a shock of historic proportions that will likely push the national unemployment rate to 16% or higher this month and require more stimulus to ensure a strong rebound, a White House economic adviser said on Sunday.

“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.