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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 ...
According to updated economic forecasts from the Fed's Summary of Economic Projections (SEP), central bank leaders see core inflation hitting 2.5% in 2025 — higher than September's projection of ...
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 ...
The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its ...
A weekly update on the impact of the COVID-19 pandemic on the world economy, and on major individual economies such as the US, China, Japan, other Asian economies, Europe, Australia and New Zealand has been produced by Saul Eslake, one of Australia's best-known economists, since late April 2020. [257]
As of 2023, the COVID-19 pandemic is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS CoV‑2). Its effect has been broad, affecting general society, the global economy, culture, ecology, politics, and other areas.
The fresh report marks one of the last major pieces of economic data before the presidential election. U.S. GDP grew at a 2.8% annualized rate over three months ending in September. That figure ...
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 ...