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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.
The COVID-19 pandemic caused far-reaching economic consequences [1] including the COVID-19 recession, the second largest global recession in recent history, [2] decreased business in the services sector during the COVID-19 lockdowns, [3] the 2020 stock market crash (which included the largest single-week stock market decline since the financial ...
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.
No one could have predicted at the beginning of 2020 that the economy would fall into the worst recession since the Great Depression. Yet, the global coronavirus pandemic caused exactly that, as...
This additional money in consumers' wallets led to more spending than one would typically expect coming out of a recession, like the one that happened in the early stages of the pandemic in 2020.
Families are more likely to feel like the economy is in a recession. Two-thirds of parents with children younger than 18 (66%) feel the economy is in a recession, versus 54% of adults with no ...
Recovery from the recession began relatively quickly, with the recession only lasting one quarter according to the NBER. As of 2022, the unemployment rate reached its pre-pandemic levels - nevertheless, in many key aspects and industries, the U.S. economy has not completely recovered from the COVID-19 pandemic.
There’s also little evidence that rich countries did better than poor, or authoritarian societies did better than democratic. In fact, the only variable that seems to explain COVID-fighting ...