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Data from the Economic Innovation Group's (EIG) Distressed Communities Index shows that as of 2023, local economies across America still hadn't fully recovered from the effects of the COVID-19 ...
Due to the COVID-19 pandemic, Congress and President Trump enacted the $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES) on March 18, 2020. The Congressional Budget Office estimated that the budget deficit for fiscal year 2020 would increase to $3.3 trillion or 16% GDP, more than triple that of 2019 and the largest ...
As the economic impact of the coronavirus began to be felt, numerous financial news sources warned of the potential cascade of impacts upon the outstanding $10 trillion in corporate debt. [ 64 ] [ 65 ] Between mid-February and early March, investors increased the premium, or additional yield, to hold junk bonds by four times the premium ...
A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. Just 10 days ago, anxious markets were freaking out about the US economy ...
“The good news is that shelter costs slowed down to 0.2%, month-on-month, and 4.9%, year-over-year. However, it also showed that there are still plenty of upside risks for inflation going ...
Impact on the greater economy was as of March 17 expected to be large as Americans have in recent years spent more at restaurants than at grocery stores. [4] Lester Jones, chief economist of the National Beer Wholesalers Association , said “This is a very significant and traumatic event for the restaurants, bars, taverns and the industry in ...
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A November 2020 paper from the National Bureau of Economic Research titled "Why Is All COVID-19 News Bad News?" found that 91% of stories by major American media outlets about COVID-19 have a negative tone compared to 54% for major media outlets outside the United States and 65% for scientific journals. [11]