After passing through the first waves of Govt-19 with the highest death toll in the world (687,000 in total), the United States is threatened by its delta diversion towards its economic recovery. Experts insist on a recovering recession, but hope this year’s gross domestic product (GDP) will remain positive – by 2020 it will have fallen to 3.56, the highest since 1946.
According to the New York Times, the US economy is facing a double blow: Delta variance has reduced tax incentives. The Basek security program, which has disbursed hundreds of billions of dollars in grants and loans to thousands of small businesses, was halted by a Supreme Court ruling in March of this year. President Joe Biden did not provide assistance.
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The newspaper also estimates that 7.5 million unemployed people lost their benefits when the incentive ended.
The Federal Reserve announced last Wednesday (November 22) that it would stop paying incentives.
While Wall Street economists wait until the end of the month to solidify expectations of anemic monthly economic growth, some argue the economy is strong. Some believe the economy is heading into another recession.
“There was a clear recession, but I would focus on the recession rather than the recession,” Jay Bryson, chief economist at Wells Fargo, told NYT.
Karen Dynan, Harvard professor and head of the Treasury in the Obama administration, said, âWe should be concerned that the recovery is weakened even further and that appetite is reduced to allow for more financial stimulus.
âFall will be slow for all of us as we withdraw our support. There will be a recession in the labor market, and black and brown workers are facing it, âsaid William Sprix, professor at Harvard and chief economist at the Confederation of American Labor and Industry.
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