A new research report released by the San Francisco Federal Reserve Bank points out that most of the United States due to the impact of the Communist virus (New Coronavirus) Epidemic and stop in-person classes, may bring a long-term blow to the U.S. economy.
According to Reuters 16, the report said that most of the Time the U.S. schools only online, face-to-face classroom time is only very little, leading to an increase in the number of dropouts, while the number of college graduates will be reduced; according to the San Francisco Federal Reserve Bank researchers late last year, the number of secondary school students who will not go on to college after graduation will increase by 1%, so the U.S. output in the next 70 years may fall by an average of 0.25 percent, and the blow to the economy could peak in 2045 with an annual loss of slightly less than $150 billion.
Researchers at the San Francisco Fed (John Fernald, Huiyu Li, and Micthell Ochse
) said that as the disparity between rich and poor worsens, low-income Family members are more likely to drop out of school; they believe that the extent of economic damage depends on how quickly the economy recovers and how many people’s Education is affected.
In addition, the president of the Kansas Federal Reserve Bank George (Esther George) said today, even if the Chinese Communist virus (new coronavirus) epidemic is under control, the U.S. economy began to recover, but people and businesses still have to face the inability to pay debts, the economy is likely to be hit. Therefore, she feels it is important to maintain fiscal policy until the blow of the epidemic has completely passed.
George believes that as the U.S. economy recovers, there will be upward pressure on prices as consumers’ willingness to shop rises, but it is not believed to pose a major problem.
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