Analysts at Berlingske, Denmark's newspaper, forecast that the current crisis in the United States may become the largest one in the whole history of the country. The coronavirus pandemic has delivered a severe blow to the American economy. Therefore, the world's leading economists are curious about how the country will find a way out of this unprecedented economic fallout.
However, this is not the first crisis in US history. Since its foundation, the country has gone through difficult periods many times, always dealing well with the consequences. The government and the financial regulator adapted an efficient strategy that helped stimulate the economy and avoid inflation. Now the country is facing the corona crisis and it is difficult to predict whether America will be able to cope with it. The figures for the second quarter were rather pessimistic with GDP shrinking by a record 32.9% year-on-year. Most of the world's countries would have already declared bankruptcy due to such a dismal economic situation. Yet, the US seems unperturbed by the present state of affairs. Acknowledging the difficulties, the country does not see a reason for panic. For instance, the decline in economic activity and the highest unemployment rate were quite predictable given the imposed restrictions. So, this news did not come as a shock to the government as well as to the financial institutions.
In addition, the White House does not lower the statistics of infected people or give misleading information about the situation with the coronavirus spread. On the contrary, the US authorities are voicing concerns about the future prospects of the economy but at the same time, they are taking efficient steps to curb the crisis.
