International Corporate Rescue
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Vol 17 (2020) - Issue 2
Article preview
A Black Swan Event
Kathleen Stephansen, Independent Economist, New York, USAThe outbreak
The rapid spread of the coronavirus (Covid-19) outbreak occurs at the time when the US economy was doing well relative to other advanced economies, thanks largely to last year’s monetary and fiscal stimulus. To fend off the emerging slowdown in growth, the Federal Reserve had cut interest rates three times and the 2017–2018 fiscal stimulus was still in place.
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