The sharp recession that resulted from the financial crisis of 2008 represented a 1% contraction of the global economy. The International Monetary Fund now expects the economic impact of the coronavirus pandemic will be three times as severe, representing the worst economic downturn since the Great Depression. The U.S. economy is itself expected to contract 6% this year. www.nytimes.com/2020/04/14/us/politics/coronavirus-economy-recession-depression.html
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