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US economic stimulus packages insufficient for speedy recovery post Covid-19 economists warn

By Paul Dennis

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.

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