Economics
AU Coronavirus Mortality & Contagiousness Weaken Economic Sentiment Discussion

ashford university

Question Description

I don’t know how to handle this Economics question and need guidance.

Write a 700-800 word Op-Ed taking a side on this issue. Please make sure it is double spaced, is properly cited using APA format (ideally you should have 3-5 references; they can include news articles, research papers, books, etc.), and draws from sound economic arguments.

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Final Answer

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Running Head: CORONA VIRUS IMPACT ON THE ECONOMY

Corona Virus Impact on the Economy
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CORONA VIRUS IMPACT ON THE ECONOMY

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Federal government response to corona’s negative impact on the economy
Introduction
The coronavirus pandemic remains likely to cause an unpredictable global recession. In
addition to addressing public health concerns, lawmakers are debating ways to tackle the
evolving and desperately required new economic policies. The COVID-19 disease has
detrimental economic consequences through an epidemiological risk (Timothy et al. 2020). It has
interrupted the world's supply of goods, making it more challenging for U.S. businesses to
complete orders. This will also slow down demand for U.S. goods and services in impacted
countries and decrease labor shortages on the one side and on the other.
Federal government response
One strategy the federal government can take into consideration is the latest debate for
quarantine and lockdown measures, which are conventional and highly likely to take a toll on the
economic environment. This solution will counteract the pandemic's adverse impact on the most
heavily-hit state economies with a significant increase in federal assistance to the state and local
governments (now clearly missing from federal fiscal stimulus schemes) (Khan et al. 2020).
Therefore, the federal government will take multiple measures to tackle the economic
implications of the virus immediately. I believe that Congress has the responsibility to come up
with mitigation protocols that cover federal spending to approaches that address the
countermeasure devised, bearing in mind the economic shortfall. The Federal Reserve has
reduced interest rates vigorously on its loans, but the fiscal policy would definitely remain very
narrow in reach because interest rates are still low for a while (Khan et al. 2020).
Additionally, a fiscal response to the financial markets should be carefully regulated by
the federal government and regulators and positioned to cope with potential market stress, credit

CORONA VIRUS IMPACT ON THE ECONOMY

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events, or abrupt reductions in credit availability or liquidity on exchanges such as repurchasing
deals at overnight stays. In addition, the continuing effect of COVID-19 on more extensive
financial stability will be closely watched by fiscal regulators (Fetzer et al. 2020). If Community
banks in hit regions, for example, are not willing to accommodate business loans that are
financially viable as liquidity is small, a system for temporarily purchasing preferred stocks in
su...

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UIUC

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