Search results
Results From The WOW.Com Content Network
The COVID-19 recession was a global economic recession caused by COVID-19 lockdowns. The recession began in most countries in February 2020. After a year of global economic slowdown that saw stagnation of economic growth and consumer activity, the COVID-19 lockdowns and other precautions taken in early 2020 drove the global economy into crisis.
While mending the underlying public health crisis that is driving the downturn could lead to a quicker recovery, scarring effects could worsen until that happens.
The Federal Reserve has expanded its balance sheet greatly through three quantitative easing periods since the financial crisis of 2007–2008.In September 2019, a spike in the overnight repo market interest rate caused the Federal Reserve to introduce a fourth round of quantitative easing; the balance sheet would expand parabolically following the stock market crash.
As of April 2020, up to a million people have been laid off due to effects of the recession. [124] Over 280,000 individuals applied for unemployment support at the peak day. [125] On 23 July 2020, Josh Frydenberg delivered a quarterly budget update stating the government had implemented a A$289 billion economic support package. As a result, the ...
The National Bureau of Economic Research said Monday that the COVID-19 crisis has officially launched the U.S. economy into a recession, thus ending the longest economic expansion on record.
Senior World Bank officials on Friday warned that developing economies could see a deeper recession than currently expected if consumption and investment do not rebound quickly after the ...
Federal Reserve Chair Jerome Powell warned Wednesday of the threat of a prolonged recession resulting from the viral outbreak.
As of April 22, 2020, about 25% of the pork processing capacity of the nation had been cut. [106] Beginning in late March 2020, weekly beef production was down 19% year-over-year. [107] As the fastest-growing mass-market meat animal in the United States, chickens were the most vulnerable to farms running out of capacity to hold an excess ...