Last October, the World Bank projected a rise in global poverty — for the first time in more than 20 years — as a result of the COVID-19 pandemic.
The World Bank estimated the pandemic would push an additional 88 million to 115 million people “into extreme poverty” in 2020.
In the United States, in response to the coronavirus, the Federal Reserve created the Paycheck Protection Program, and leaders promised not to raise interest rates until the economy reached “full employment and consistently maintained 2% inflation.”
But there’s a lot more to why and how the Federal Reserve is responding to COVID-19.
Atlanta Federal Reserve President and CEO Raphael Bostic joined “Closer Look” host Rose Scott on Tuesday’s edition of the program as part of a week-long series looking back at one year since the first COVID-19 cases were confirmed in Georgia. He shared his economic outlook for the region amid COVID-19.
To hear the full conversation, click on the audio player above.