U.S. stock futures pointed to losses at the open on Thursday.
Economists forecast that the unemployment rate will jump into the teens this month, from March's 4.4% level and the 3.5% it was at in February.
Federal Reserve Chairman Jerome Powell is also set to speak on Thursday. His remarks follow the release of the minutes from the Federal Open Market Committee's emergency meeting in March, which is when the central bank slashed interest rates to near zero. The minutes revealed that the Fed is prepared to keep rates near zero until the economy has "weathered" the coronavirus impact.
"With regard to monetary policy beyond this meeting, these participants judged that it would be appropriate to maintain the target range for the federal funds rate at 0 to ¼ percent until policymakers were confident that the economy had weathered recent events and was on track to achieve the Committee's maximum employment and price stability goals," the statement said.for exclusive insights and analysis, and live business day programming from around the world.
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