Just when you thought you heard the worst of coronavirus fallout, economists from the Federal Reserve’s St. Louis district forecast a whopping 32.1% unemployment, or 47 million employment reductions!
Here to share his projected unemployment insights is economist Jack Hanney, CEO of Patriot Gold Group.
Q&A:
- I could understand it if some fringe Internet site forecast that one third of Americans would seen be unemployed, but this dire forecast is from ultra-conservative United States Federal Reserve economists. What gives?
- A record 3.3 Americans filed for unemployment for the week ending March 21. How will this impact our economy?
- is the actual definition of a Recession?
- The Fed now shows 66.8 million employees in ‘high risk of layoff’ jobs. And since paper money, or fiat money, is based on confidence, what does this do for confidence and the strength of the dollar.
- When employment is high and the stock market so volatile, are there any opportunities for investment or any safe havens left?
- Where may we get financial information during this coronavirus era?
Reference article: https://www.cnbc.com/2020/03/30/coronavirus-job-losses-could-total-47-million-unemployment-rate-of-32percent-fed-says.html
ABOUT JACK HANNEY…
Jack Hanney has been in the financial markets for 20+ years and is widely heralded as an expert in his field.
Born and growing up in Westchester County, NY where his father was a successful politician and owner of an Insurance Brokerage Firm. Jack began subscribing to The Wall Street Journal at the age of 14 and moved to California in his early 20’s to study under William O’Neill, arguably the single most successful investor in the history of the markets and founder of Investor’s Business Daily and author of How to Make Money in stocks.
Jack Hanney went on to be the General Manager and Director of Sales at several algorithmic automated trading companies trading the futures and commodities markets working with Introducing Brokers out of Chicago, Geneva and NYC. Jack was recruited by several tech startups and made a name for himself at Infosearch Media, Virtumundo and The Design People before returning to Finance. Jack passed on Morgan Stanley and other reputable, prestigious Brokerage firms to be a CFP in their Wealth Management Divisions and opted for a position as Senior Executive Trader with MG Private Client Services where he spent 4 years 2010-2014.
Jack Hanney had spent two years as Director of Trading, Executive Vice President of WDM overseeing the Retail Division before collaborating with two other prominent experts in his field and opening Patriot Gold Group a collective of Industry-Leading Experts bringing their clients Investor Direct Pricing and superior customer service.
Jack has written over 200M in business and trades maintaining outstanding relationships with his clients at Patriot Gold Group (PGG), where he is a senior partner, who he refers to as dear friends and family and now … welcoming them to the PGG family of investors. Jack resides in Los Angeles, California and is the proud father of his two daughters, Kate age 10 and Luna age 18.
