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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 ...
By April 25, the U.S. had more than 905,000 confirmed coronavirus cases and nearly 52,000 deaths, giving it a mortality rate around 5.7 percent. (In comparison, Spain's mortality rate was 10.2 percent and Italy's was 13.5 percent.) [87] [88] In April 2020, more than 10,000 American deaths had occurred in nursing homes.
Price gouging became highly prevalent in news media in the wake of the COVID-19 pandemic, when state price gouging regulations went into effect due to the national emergency. The rise in public discourse was associated with increased shortages related to the COVID-19 pandemic. The resulting inflation after the pandemic has also been blamed, at ...
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 ...
A patent is an exclusionary right – preventing others from entering the market – and so its effect may be to increase the patent proprietor's income from that market. The major economic effect is the exclusivity period of the patent rights, when exploitation pays back for the enterprise that funded research and development. However ...
(Bloomberg Opinion) -- The coronavirus outbreak in China is already threatening to undermine the global economy. It may soon create a similar shake-up in the drug industry. I'm not talking about ...
Food prices soared 3.1%, making up 80% of the increase in goods prices. Wholesale egg prices vaulted 54.6%, the most since June, after declining 20.6% in October. Prices for fresh and dry ...
WASHINGTON (Reuters) -The Justice Department late on Wednesday asked a U.S. appeals court to reject an emergency bid by TikTok to temporarily block a law that would require its Chinese parent ...