The national unemployment rate was 5.0 percent in December 2007, and had been at or below that level for the previous 30 months. It reached 9.5 percent at the end of the recession, in June 2009. The unemployment rate peaked at 10.0 percent in the months following the recession (in October 2009). During the Covid […]
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Federal Reserve Chairman Ben Bernanke informed Treasury Secretary Henry Paulson on September 17, 2008, that a considerable amount of public money will be required to stabilize the financial sector. On September 19, short trading of 799 financial stocks was outlawed. Large short positions were also required to be disclosed by companies. The Treasury Secretary also
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Interest rates are the Fed’s major weapon in the fight against inflation. According to Yiming Ma, an assistant finance professor at Columbia University Business School, it does so by determining the short-term borrowing rate for commercial banks, which the banks subsequently pass on to consumers and businesses. This rate affects everything from credit card interest
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The early 1980s recession was a severe economic downturn that hit most of the world between the beginning of 1980 and the beginning of 1983. It is largely regarded as the worst economic downturn since World War II. The 1979 energy crisis, which was mostly caused by the Iranian Revolution, which disrupted global oil supplies
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Venezuelan hyperinflation is a currency instability that began in 2016 as a result of the country’s continuous socioeconomic and political turmoil. In 1983, Venezuela began experiencing continuous and uninterrupted inflation, with yearly inflation rates in the double digits. Under Nicols Maduro, inflation rates rose to the highest in the world in 2014, and they continued
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Inflation, according to economists, occurs when the supply of money exceeds the demand for it. When inflation helps to raise consumer demand and consumption, which drives economic growth, it is considered as a positive. Some people believe inflation is necessary to prevent deflation, while others say it is a drag on the economy. Some inflation,
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To stabilize the economy, fiscal policy entails employing either taxes or government spending. Fiscal policy that is expansionary can close recessionary gaps (by lowering taxes or increasing spending), while fiscal policy that is contractionary can close inflationary gaps (using either increased taxes or decreased spending). What can fiscal policy do to close the GDP gap?
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The Bureau of Labor Statistics (BLS) produces the Consumer Price Index (CPI), which is the most generally used gauge of inflation. The primary CPI (CPI-U) is meant to track price changes for urban consumers, who make up 93 percent of the population in the United States. It is, however, an average that does not reflect
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According to Trading Economics global macro models and analysts, Kenya’s GDP per capita is anticipated to reach $1500.00 USD by the end of 2021. According to our econometric models, Kenya’s GDP per capita will trend around 1550.00 USD in 2022 and 1600.00 USD in 2023 in the long run. What accounts for Kenya’s low GDP
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“A well-structured infrastructure bill would enhance the supply side of the economy, lowering inflationary pressures, by making it less expensive for firms to operate, allowing them to raise their output per hour and putting downward pressure on consumer prices.” Is spending on infrastructure inflationary? The infrastructure measure should have a counter-inflationary effect over time. Again,
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