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3 years agoon
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OpinionTo understand why this is happening, let’s start by examining something the United States got right: economic stimulus. In March and April, despite the most polarized political climate since the aftermath of the Civil War, Congress provided $2.4 trillion in relief, and the Federal Reserve provided even more. This adds up to about 25 percent of gross domestic product, one of the largest spending efforts in the world. That might explain why the stock market has barely noticed that the economy remains in its worst condition since the Great Depression.
By Fareed Zakaria | 9 July 2020