The U.S. is still struggling to claw out of the hole created by the Great Recession, the Wall Street-caused crisis that resulted in the loss of millions of jobs. According to a new report from Better Markets, a pro-financial reform organization, the crisis cost Americans about $12.8 trillion in lost economic output:
– Estimated actual gross domestic product (“GDP”) loss from 2008 to 2018, of $7.6 trillion. This is the cumulative difference between potential GDP — what GDP would have been but for the financial and economic crises– and actual and forecast GDP during the period.
New Report Finds Financial Crisis Cost Economy $12.8 Trillion
Federal Reserve chair Jerome Powell said earlier this morning that the central bank would likely have...
Procter & Gamble will cut up to 7,000 jobs, or approximately 6% of its global workforce,...
