The Situation as it Stands
The Federal Reserve expects the US economy will shrink by 6.5 pct. this year due to the impact of COVID-19 according to their projections put forward on 10 June. At the same time the FED predicted that the unemployment rate will drop to around 9.3 pct. by the end of the year from a current level around 13,5 pct.
In total four relief packages have been adopted, totaling the collective relief to $3,000 billion. In addition, the US Federal Reserve has set up loan programs to provide $2,300 billion in economic support to companies. The relief and support plans are important steps in attempt to stabilize the situation and rescuing a distressed business community. A new relief package is expected over the summer.
Doing Business in the U.S?
For further information about the situation in the U.S. please see the latest report from the Confederation of Danish Industry. The report provides a selection of information on essential developments related to the Corona crisis in the U.S. As for now, reports are also available on the situation in China, United Kingdom, Germany, France and Sweden.
For comments or questions please contact Louis Funder, U.S. General Manager at email@example.com