US economic stimulus packages insufficient for speedy recovery post Covid-19 economists warn
17 June
The Federal Reserve has announced trillions of dollars in stimulus packages, but it may not be sufficient as the damage caused by the Covid-19 pandemic is severely impacting the US economy.
Experts feel the need for additional relief measures including unemployment benefits to prevent a prolonged recovery for the economy.
Joseph Zeballos-Roig, a journalist and writer, shared an article on how former Federal Reserve chairs and 130 economists signed a letter requesting additional relief measures to stop the US economy suffering a prolonged recovery.
Although the Federal Reserve has announced $3.5bn in stimulus package, the experts felt that more needs to be done to ensure that the US economy recovers at a faster pace.
Prolonged economic downturn can damage the economic and wealth creation opportunities especially minority communities, the article added.