Live updates: White House predicts 20 percent unemployment; Sen. Lamar Alexander will self-quarantine

0
734
Live updates: White House predicts 20 percent unemployment; Sen. Lamar Alexander will self-quarantine

Two of President Trump’s top economic advisers are predicting that the already dire state of the U.S. job market could worsen in coming months, as businesses continue to feel the ripple effects of the coronavirus pandemic. The unemployment rate, which reached 14.7 percent last week, is likely to rise to 20 percent next month, White House economic adviser Kevin Hassett said on Sunday.

Meanwhile, senior administration officials are growing increasingly concerned about the massive cost of federal stimulus efforts, and looking for ways to reduce the long-term impact on the national debt.

Here are some significant developments:

  • Mother’s Day saw the lowest reported number of coronavirus deaths and new cases in the United States since the end of March. There were 793 new deaths reported as of Sunday evening and 20,693 new cases. Numbers have typically dipped on weekends, but the totals still stand out as leaders look for positive trends.
  • Sen. Lamar Alexander (R-Tenn.) will self-quarantine for two weeks after one of his staff members tested positive for coronavirus. Alexander tested negative on Thursday and will chair a Senate health committee hearing Tuesday by video, his chief of staff said.
  • Adm. Michael Gilday, the Navy’s top officer, will be self-quarantining this week after coming into contact with a family member who tested positive for the novel coronavirus, the Department of Defense said Sunday.
  • Britain will quarantine foreign travelers as part of a gradual plan to “unlock the lockdown.”
  • Republicans are growing increasingly nervous that they could lose control of the Senate as the economy craters and President Trump’s handling of the pandemic faces extreme scrutiny.

Read More

LEAVE A REPLY

Please enter your comment!
Please enter your name here