April Payrolls Number Will Be 'Epic' Says JPM's Feroli

The transcript discusses the economic impact of recent jobless claims and the anticipated payroll report, predicting significant job losses. It highlights the challenges in economic recovery, comparing the situation to natural disasters and the Great Recession, suggesting long-term impacts on output growth. The discussion also covers GDP decline projections, with a focus on Q1 and Q2, and the reliance on novel economic indicators to track the situation.

How does the current economic situation compare to the Great Recession?

What are the expected GDP changes for the upcoming quarters?