FED: FINANCIAL SYSTEM ‘UNDER SEVERE STRAIN’… ASSET PRICES SUBJECT TO “SIGNIFICANT DECLINES” IF PANDEMIC WORSENS

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The Federal Reserve says parts of the financial system came under severe strain in March, sees further threats possible

 

Coronavirus pandemic could drive homelessness up as much as 45% by end of 2020, economist projects

If the coronavirus pandemic continues to drive unemployment levels as high as predicted, homelessness will increase 40% to 45% by the end of the year, according to an analysis by a Columbia University economics professor.

That would mean 250,000 more people in the US would experience homelessness compared with last year, bringing the total number of those experiencing homelessness to above 800,000.

“This is unprecedented,” Brendan O’Flaherty, who conducted the analysis, said in a statement. “No one living has seen an increase of 10% of unemployment in a month.”

 

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