国际英语资讯:Spotlight: U.S. Fed likely to offer more guidance on rates next week amid COVID-19 fallout_时事_双语阅读-查字典英语网

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国际英语资讯:Spotlight: U.S. Fed likely to offer more guidance on rates next week amid COVID-19 fallout

The U.S. Commerce Department reported last week that economic activity in the first quarter contracted at an annual rate of 5 percent in a second estimate, 0.2 percentage point lower than the advance estimate.

That downwardly revised figure, however, still does not fully capture COVID-19's economic damage, and many analysts believe that the decline in the second quarter is expected to be much deeper.

The fallout from the COVID-19 pandemic will shrink the size of the U.S. economy by 7.9 trillion dollars over the next decade, according to new projections released by the Congressional Budget Office on Monday.

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