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Fed Staff Projected 'Mild Recession' Starting Later In 2023

Fed Staff Projected 'Mild Recession' Starting Later In 2023
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Fed Staff Projected 'Mild Recession' Starting Later In 2023

Fed Staff Projected 'Mild Recession' Starting Later In 2023
streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.

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Financing The U.S. Response To COVID-19


this post authored by Fernando M. Martin, Research Officer and Economist
The U.S. fiscal response to the COVID-19 pandemic was unprecedented in speed and size. The federal government enacted massive programs to assist households and businesses, mostly from April to June. The combined effects of this assistance and a depressed economy increased the federal deficit by about $2 trillion, resulting in a record deficit of $3.1 trillion for fiscal year 2020.1 As a reference, the previous record was $1.4 trillion in fiscal year 2009, in response to the Great Recession, which followed the financial crisis of 2007-08.
Fiscal deficits are naturally financed with debt. Consequently, federal debt held by the public increased by $4.2 trillion during fiscal year 2020, reaching $21 trillion.2 As with government assistance, a significant proportion of this new debt (about $2.9 trillion) was issued from April to June. ....

Fernandom Martin , Federal Reserve Bank , Congressional Budget Office , Federal Reserve , Research Officer , Great Recession , Social Security , கூட்டாட்சியின் இருப்பு வங்கி , காங்கிரஸ் பட்ஜெட் அலுவலகம் , கூட்டாட்சியின் இருப்பு , ஆராய்ச்சி அதிகாரி , நன்று மந்தநிலை , சமூக பாதுகாப்பு ,