Janet Yellen says second-quarter GDP could decline by 30% and unemployment is already at 12%-13%

Former Federal Reserve Chair Janet Yellen said the current unemployment rate could be 13% while economic growth is down 30% or more.

Yellen expressed some doubt as to whether the U.S. recovery will signal a quick recovery shaped like a “V.′

Yellen told CNBC the current situation is a “huge, unprecedented, devastating hit” though it is not in the same category as the Great Depression.