Just How Bad Was the 2009 Global Recession? Really, Really Bad
- Slump was most severe of four since 1960, IMF book says
- Fiscal tightening undercut monetary policy, researchers find
Have Global Markets Bottomed Out?
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The global recession that followed the financial crisis was the most severe in half a century, an unusually synchronized shock that paralyzed trade and left 23 million more people out of work.
Yet the response by policy makers hasn’t been up to the task, with central banks bearing too much of the burden. And the world may be on the edge of another recession, even though it hasn’t recovered from the last one.