‘The deepest recession on record’: Bank of America slashes forecasts, now sees up to 20 million jobs lost, 15.6% unemployment, and a shrinking economy for 3 straight quarters Post date May 15, 2020 ← ‘Painfully evident’ damage: Deutsche Bank now thinks the US economy will shrink by nearly 40% in the 2nd quarter following coronavirus lockdowns → Brace for the ‘deepest recession on record,’ says BofA analysts, as jobless claims surge to 6.6 million