This paper discusses the impact of the coronavirus outbreak on the US economy thus far and provides a trajectory about what to expect in terms of economic damage in the short to medium term.
This paper first discusses the impact of the coronavirus outbreak on the US economy thus far and provides a trajectory about what to expect in terms of economic damage in the short to medium term. It then discusses American policy-makers’ response to the ongoing crisis via monetary and fiscal channels, which aims to mitigate the economic consequences. Finally, it discusses the global ramifications of the Coronavirus Outbreak. The paper concludes that most of the economic damage can be short-lived and global economy will probably bounce back towards the end of this year, but country-level effect depends on governments’ effectiveness in suppressing the spread of the disease and use of measures to support the economy in the meantime.
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