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The 1948 recession was a brief economic downturn; forecasters of the time expected much worse, perhaps influenced by the poor economy in their recent lifetimes. [62] The recession also followed a period of monetary tightening. [40] Recession of 1953: July 1953 – May 1954 10 months 3 years 9 months 6.1% (September 1954) −2.6%
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 ...
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.
Many feared that war on inflation would cause unemployment to surge and short-circuit the economic recovery from Covid-19. ... won’t be a US recession over the next 12 months, placing just a 15% ...
The US economy is on the verge of an extremely rare achievement. Economic growth in the first half of the year was solid, with the economy expanding a robust 2.8% annualized rate in the second ...
The Sahm Rule, developed by economist Claudia Sahm, says that the US economy has entered a recession if the three-month average of the national unemployment rate has risen 0.5% or more from the ...