Speaking on CNBC
- we've been successful with Fed program so far
- sees main economic impact of that shut down in 2nd quarter
- April jobs report will be 1 of the worst on record
- expects 3rd quarter to be transition, with relatively rapid fourth-quarter
- says unemployment rate could hit 20% ago even higher
- could see unemployment rate back and single digits 5 years and
- ADP number not a surprise
- no question that shut down is very disruptive, but we understand the shock and need to deal with health crisis
- Fed Mobile the same more in terms of for guidance by 2nd half of the year
- still feels there are limits on how much can be borrowed, but ideas are being re-examined about where that limit is
