US President Donald Trump acknowledged that the recession is fast approaching in the USA and the Government needs to work on fighting it. With shops and stores closing, the income for majority of the Americans turned to be a question. Even though, the Government is expecting the recession sometime later in the year, due to Corona Virus, it fast approached and few officials are saying that we are currently in recession.
US Government is making efforts to fight the recession and one of the ways proposed was to give $1000 for every tax payer. It is a noted point that the year is the year of elections in USA as well. The candidates will be using the recession as the main point of debate.
The slow down of the market is expected to continue till September, 2020 and the rate of impact will depend on how well the Government controls the Corona outbreak.