World should prepare for a new US economic depression

The White House Photo: XinhuaThe past few days saw the Trump administration and the Federal Reserve roll out a slew of unprecedented emergency measures aimed at containing economic damage from the coronavirus. But the recent market crash indicates they may need to do more and at a quicker pace to prevent an almost certain recession from evolving into a depression.The US has likely already entered a recession as shown by the stock market rout. If market panic intensifies and the Fed’s policy fails to calm it, US stocks may tumble further, meaning the stock market crisis would parallel the Great…

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