3 go to to succeed in shutting down a. B. s c. B. S. T. V. By the fulfilled leg join us of a special coverage as we look at the possible demise of a media giant and the ramifications for press freedom in the philippines on aljazeera. As corona virus spreads in the u. S. Its economy is likely to face its worst crisis since the Great Depression and the spillover is expected to inflict long term damage there and around the world so what can be done to reverse the crash and can the Global Economy fully recover this is inside story. Hello and welcome to the program im how much im joined its the Worlds Largest economy and has enjoyed record growth but its collapsing the u. S. Economy could be facing its worst recession in decades triggered by coded 1000 measures it shrank by almost 5 percent in the 1st quarter of this year thats the biggest slide since the 2008 financial crisis millions of americans have lost their jobs Consumer Spending has seen its biggest decline in 40 years and many busi
As corona virus spreads in the u. S. Its economy is likely to face its worst crisis since the Great Depression and the spillover is expected to inflict long term damage there and around the world so what can be done to reverse the crash and can the Global Economy fully recover this is inside story. Hello and welcome to the program im homage im joined its the Worlds Largest economy and has enjoyed record growth but its collapsing the u. S. Economy could be facing its worst recession in decades triggered by coded 1000 measures it shrank by almost 5 percent in the 1st quarter of this year thats the biggest slide since the 2008 financial crisis millions of americans have lost their jobs Consumer Spending has seen its biggest decline in 40 years and many businesses are going bankrupt the u. S. Has pumped more than 2 trillion dollars into the economy in the past 6 weeks but many economists say this is not enough and the worst is yet to come President Donald Trump says things will bounce back
Largescale repos, as it has been doing it goes on to describe the impact of the coronavirus on the economy the way it sees it, causing tremendous human and economic hardship, the statement says and measures to protect health have been causing the sharp economic declines and the losses in unemployment and jobs on the inflation front, the Federal Reserve notes, muted inflation, says weak demand and Lower Oil Prices are holding down inflation disruptions to Economic Activity, it says, have impaired the flow of credit the Public Health crisis will weigh heavily, it says, on Economic Activity and unemployment and just a bit of analysis picking on something that was just said there, there is no forwardlooking aspect to this statement here generally, the Federal Reserve says, this policy will lead to x, continued, sustained expansion. Things like that there is nothing here where the fed says the policies we have now will lead to x in the future its all about the fed chronicling the damage to
Significantly in this statement here, in unanimous decision, the fed will maintain the target rate of near zero, between zero and quarter of a point until the fed is certain, it says that the economy has weathered this storm. Now the fed also approved establishment after primary credit rate of. 25 . The basic credit rate it lends to banks going back and forth no mention other Credit Facilities being related or created for this. Of the almost 5 trillion in stimulus. The Federal Reserve has yet to go forward. I talked with treasury secretary Steve Mnuchin and he said [inaudible] cheryl weve just lost edward. I want to give you a recap. Well look at the dow right now. Stocks are actually maintaining their position right now. The dow is up 570. All of the headlines were seeing cross from the Federal Reserve right now, again just to recap here, near zero, unanimous decision. It was 100 from the fed a unanimous decision and they are pledging aggressive action as the economic distress worsens