America’s Economy Nosedives 32.9% In 2nd Quarter Of 2020

Some really ugly numbers concerning the U.S. economy were released today.

Economy-GDP
FILE - In this June 20 2020 file photo, a "Store For Rent" sign is displayed at a retail property in Chicago. The U.S. economy shrank at a 5.0% rate in the first quarter with a much worse decline expected in the current three-month economic period because of the coronavirus pandemic. Nam Y. Huh / AP Photo
Economy-GDP
FILE - In this June 20 2020 file photo, a "Store For Rent" sign is displayed at a retail property in Chicago. The U.S. economy shrank at a 5.0% rate in the first quarter with a much worse decline expected in the current three-month economic period because of the coronavirus pandemic. Nam Y. Huh / AP Photo

America’s Economy Nosedives 32.9% In 2nd Quarter Of 2020

Some really ugly numbers concerning the U.S. economy were released today.

U.S. GDP shrunk by nearly 33 percent in the second quarter of 2020 — the largest drop on record.

Reset turns to a noted economist for an explanation.

GUEST: Diane Swonk, chief economist at Grant Thorton LLP, adviser to the Federal Reserve