The US economy will experience a longer recovery period
June 03, 2020 08:22 Source: "China Social Sciences" June 3, 2020 Total 1939 Author: Reporter Yan Yong

With the epidemic situation that has not been effectively controlled,Many states in the United States have begun to restart the economy。Some people in the industry have expressed their views on the economic prospects of the United States。

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Jerome Powell, chairman of the Federal Reserve Committee, said in a TV interview on May 17th,If the epidemic does not repeat,The US economy is expected to begin in the second half of the year from devastating recession。But he said at the same time,Before the vaccine came out,It is unlikely that the full recovery of the US economy。Generally speaking,The time required for normal economic recovery is far more than the time used in collapse。

For this,Former Chief Economist of the US International Trade Commission、Peter Morici, a honorary professor Bet365 lotto review at the University of Maryland's Smith Business School, believes that the US economy is not too bad at present,But the situation in the future will become not optimistic,and it will last a long time。Economic recovery will be a slow process,Some of them will be permanently closed,Millions of million workers will lose work。

Cailey Locklair, Chairman of the Maryland Retailer Association, said,The unemployment scale that appears affected by the epidemic is far exceeding the estimation,Many members of the association are worried that unemployment numbers will continue to grow。From Lockerlair's view,At present, the worst period of the American economy is in history。Mary Ohollen, Director of the National Independent Enterprise Federation, also said,Related unemployment data in the United States is shocking,Some small business layoffs cannot avoid bankruptcy。

Current,The unemployment crisis in the United States has intensified,36.5 million people have applied for bet365 Play online games unemployment relief,The unemployment rate rises to 14.7%,Become the highest value since the Great Depression,And it is expected that the unemployment rate in the future will be higher。For this,Powell said,This is a period full of great pain and difficulties,It has so fast,The impact is so big,so that people cannot express the pain and uncertainty they feel in words in words。

  Economic prospects are not optimistic

Minister of Finance Steven Mnuchin believes,Employment data will be worse before improved。His supplement said,The overall economy began to recover at the end of the year,It may continue to weaken in the short term。The U.S. Congress has approved a package of nearly $ 3 trillion,It aims to reduce the impact of crisis。The Fed has also reduced interest rates to zero,and started 9 loan plans,To support enterprises、City and Financial Market。Powell said,The unemployment rate may reach about 25%during the Great Depression,But compared with the 1930s,Bet365 lotto review American banking industry is much healthier now,The Federal Reserve is also more capable、More willing to take intervention measures to boost the economy。

In the past few weeks,The Trump administration has called for restarting economic measures to be criticized by epidemiologists and other experts,They are still worried that the epidemic in the United States' new crown pneumonia has not been controlled。Democratic Senator Sherrod Brown questioned the White House's approach: to increase the GDP of domestic production by 0.5%,How many workers need to give their lives? In Moric's view,There was a better self -rescue opportunity in the US economy,But within a few weeks after the epidemic,Political and business leaders are pushing off responsibility。Now,They not only eat their own fruit,Also tortured ordinary people and workers with joints。

At the time of judgment and debate of the US economic prospects in politicians and technical officials,Some scholars put forward bet365 live casino games their own opinions。In the view of Andrew Duguay, chief economist of Prilede Group,Consumer confidence and expenditure、Unemployment and salary level, as well as the manufacturing procurement manager index,It is an important reference for judging whether the US economy can get out of the trough。For the past 10 years,American consumers have always been the most powerful pillar of the US economy。But in March and April this year,Consumer confidence decreases at a historic rate。American consumers have begun to increase savings,and plan to control expenditure in the next 6 months。Many people think,Once the economy restarts,The unemployment rate will drop immediately,But the decline in the unemployment rate is the real indicator that measures the degree of economic recovery。It is unclear how many companies can recall all employees,How many Americans who are temporarily unemployed can find a job。At the same time,Manufacturing bet365 Play online games Purchasing Manager Index is one of the most powerful economic indicators in industrial production。The manufacturing industry in the United States has to face the road of longer recovery,This means that the United States can only rely on consumers to lead the economic recovery。

Editor in charge: Wang Ning
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