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Post by sevenofnine on Feb 27, 2020 13:57:17 GMT -5
You think Madame Chairman Bloomberg) -- Former Federal Reserve Chair Janet Yellen said depending on how widely the coronavirus spreads, the economic impact could have a significant impact on Europe and veer the U.S. toward a recession. “We could see a significant impact on Europe, which has been weak to start with, and it’s just conceivable that it could throw the United States into a recession,” Yellen said Wednesday at an event in Michigan. “If it doesn’t hit in a substantial way in the United States, that’s less likely. We had a pretty solid outlook before this happened -- and there is some risk, but basically I think the U.S. outlook looks pretty good.” The global economy was weak but starting to recover before the virus hit, Yellen said. The shutdown of factories due to the outbreak in China will impact supply chains and cause a drop in consumer spending as people have been quarantined or cease traveling. ca.finance.yahoo.com/news/yellen-says-coronavirus-could-throw-234647173.htm
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