Fed Chairman Jerome Powell said US GDP could shrink up to 30% but he does not see the economy entering a Depression over the longer term.

  • Fed Chairman Jerome Powell made the statement ton 60 Minutes.
  • He said the jobless numbers however, could look a lot like they did in the 1930’s when unemployment peaked at close to 25%.
  • Powell said he feels the strength of its financial system should pave the way for a significant rebound.