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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.
The 2008 financial crisis, also known as the global financial crisis, was a major worldwide economic crisis, centered in the United States, which triggered the Great Recession of late 2007 to mid-2009, the most severe downturn since the Wall Street crash of 1929 and Great Depression.
In response, Trump signed the $2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES) on March 27, 2020 which helped maintain family incomes and savings during the crisis, but contributed to a $3.1 trillion budget deficit (14.9% GDP) for fiscal year 2020, the largest since 1945 relative to the size of the economy.
European banks are bracing for intensified competition as U.S. President-elect Donald Trump prepares to roll out policies to deregulate the U.S. financial sector. Trump's promise to ease financial ...
In May 2020, Chinese Premier Li Keqiang announced that, for the first time in history, the central government would not set an economic growth target for 2020, with the economy having contracted by 6.8% compared to 2019 and China facing an "unpredictable" time. However, the government also stated an intention to create 9 million new urban jobs ...
Since 1991, Europe has saved €1.8 trillion ($1.9 trillion) as a result of lower defense spending — a so-called “peace dividend” — allowing an expansion in European welfare states “to a ...
Swiss bank UBS is set to shell out more than $1.4 billion to settle accusations of “historic” fraud relating to its role in the 2008 financial crisis. The European banking giant has agreed to ...
Ukraine was hit heavy by the economic crisis of 2008, analysts say the plights of Ukraine are slumping steel prices, local banking problems and the cutting of Russian gas supply in January 2009. [131] Key industries such as metallurgy and machine building are laying off workers, and real wages have started to fall for the first time in a decade ...