2020欧洲杯投注开户

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2020欧洲杯投注开户

Last Updated : Mar 25, 2020 10:56 PM IST | Source: dessin-nature.com

COVID-19 not just an economic depression but a snowstorm: Former Fed chairman

“It is possible there’s going to be a very sharp, short, I hope short, recession in the next quarter because everything is shutting down of course,” Bernanke said.

Ben Bernanke, the former Federal Reserve chairman, told  on March 25 that he feels the coronavirus economic halt is more like a "major snowstorm" than an economic depression.

2020欧洲杯投注开户Bernanke was the one who was instrumental in guiding the Fed in its efforts to revive the economy in 2008. As a central bank chairman, he pulled the benchmark interest rate down to almost zero at that time.

According to Bernanke, the United States is going through an acute recession. However, it is rather a short one.

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2020欧洲杯投注开户“It is possible there’s going to be a very sharp, short, I hope short, recession in the next quarter because everything is shutting down of course,” Bernanke said.

“If there is not too much damage done to the workforce, to the businesses during the shutdown period, however long that may be, then we could see a fairly quick rebound,” he added.

As per Bernanke, the 2020 crisis is quite different from the Great Depression. He believes controlling the coronavirus pandemic will greatly help to revive the situation. The present situation is due to the mix of panic and volatility, he said..

“Nothing is going to work, the Fed is not going to help, fiscal policy is not going to help if we don’t get the public health right, if we don’t solve the problem of the virus” Bernanke said.

According to Bernanke, public health holds the highest importance at this juncture.

“If we can get that straight, then we know how to get the economy working again,” he said.

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First Published on Mar 25, 2020 10:24 pm

tags #recession

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