More than 3 million jobless Americans asked the United States government for financial assistance last week. That is a record number for one week, the U.S. Labor Department reported Thursday. The old record had been 695,000 from 1982. This is the beginning of the really bad numbers we are going to see for the next few months, said Subadra Rajappa. She is head of U.S. Rates Strategy at Societe Generale in New York City. Also on Thursday, the chairman of the Federal Reserve, Jerome Powell, told NBC television that the U.S. may already be in recession, as many companies have suspended operations. Schools, movie theaters and other businesses have closed as Americans turn to social distancing to slow the growth of coronavirus. The central bank chair added that progress in controlling the spread of the coronavirus will decide when the economy can fully reopen.
Title: Millions Unemployed as Central Bank Warns US in 'Recession' in the face of COVID-19
Content: <div id='article-page'><div id='article-content' data-media-url='//news-app-staging.s3.amazonaws.com' data-base-url='//news-app-staging.herokuapp.com' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4041/3.27.20b.wav' data-capture-url='//staging.analytics.lingraphica.com/events/capture_news' data-article-title='Millions Unemployed as Central Bank Warns US in 'Recession' in the face of COVID-19' data-article-id='4577'><script src='//news-app-staging.herokuapp.com/javascripts/getscripts.js'></script><link rel='stylesheet' href='//news-app-staging.herokuapp.com/stylesheets/article.css' type='text/css' /><div class='article'><p><span data-start-time='0' data-end-time='10646'> More than 3 million jobless Americans asked the United States government for financial assistance last week.</span> <span data-start-time='10646' data-end-time='19396'>That is a record number for one week, the U.S. Labor Department reported Thursday.</span> <span data-start-time='19396' data-end-time='27500'> The old record had been 695,000 from 1982.</span> <span data-start-time='27500' data-end-time='38979'>This is the beginning of the really bad numbers we are going to see for the next few months, said Subadra Rajappa.</span> <span data-start-time='38979' data-end-time='47458'> She is head of U.S. Rates Strategy at Societe Generale in New York City.</span> <span data-start-time='47458' data-end-time='65729'>Also on Thursday, the chairman of the Federal Reserve, Jerome Powell, told NBC television that the U.S. may already be in recession, as many companies have suspended operations. </span> <span data-start-time='65729' data-end-time='78688'>Schools, movie theaters and other businesses have closed as Americans turn to social distancing to slow the growth of coronavirus.</span> <span data-start-time='78688' data-end-time='91333'>The central bank chair added that progress in controlling the spread of the coronavirus will decide when the economy can fully reopen.</span> </p></div><div class='control-buttons-sticky' style='display:none;'><div class='control-buttons'><button title='Back' class='back' disabled='disabled'></button><button title='Play' class='play' disabled='disabled'></button><button title='Pause' class='pause' style='display:none;'></button><button title='Forward' class='forward' disabled='disabled'></button><button class='finished-reading' style='display:none;'>Done</button></div></div></div><div id='article-media'><div id='media-image'><img src='https://news-app-production.s3.amazonaws.com/articles/4041/3.27.20b.jpg'/></div></div><div id='question-content' style='display:none;'><div class='multiple_choice_question question-container' data-question-id=14667 data-hint-location='47458' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4041/what_us_government_entity_was_featured_in_this_article.wav'>What US government entity was featured in this article?</div><div class='choices' data-correct-choice='U.S. Labor Department'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4041/us__labor__department.wav'><span>U.S. Labor Department</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4041/the_senate.wav'><span>The Senate</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4041/the_us_cabinet.wav'><span>The US Cabinet</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4041/the_us_surgeon_general.wav'><span>The US Surgeon General</span></div></div></div><div class='sentence_completion_question question-container' data-question-id=14668 data-hint-location='38979' style='display:none;'><div class='question' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4041/the_focus_of_this_article_was_on__blank_.wav'>The focus of this article was on <span class='blank'>The prospect of recession in the face of COVID-19</span></div><div class='choices' data-correct-choice='The prospect of recession in the face of COVID-19'><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4041/the_prospect_of_a_stock_market_increase_in_the_face_of_coronavirus.wav'><span>The prospect of a stock market increase in the face of coronavirus</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4041/the_difficulty_in_coming_up_with_a_covid19_vaccine.wav'><span>The difficulty in coming up with a COVID-19 vaccine</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4041/the_prospect_of_recession_in_the_face_of_covid19.wav'><span>The prospect of recession in the face of COVID-19</span></div><div class='choice' data-sound-name='https://news-app-production.s3.amazonaws.com/articles/4041/the_closing_of_schools_with_the_current_health_outbreak.wav'><span>The closing of schools with the current health outbreak</span></div></div></div><div class='question-buttons'><button class='skip-button'></button><button class='hint-button'></button><button class='speak-button'></button></div></div></div>
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