the Collapse of the financial markets could happen again, says the report of the Federal reserve system (FRS) for financial stability. Asset prices remain vulnerable to pandemic coronavirus COVID-19.
“Uncertainty is still high and markets remain volatile compared to historical norms, which suggests the possibility of further price declines if the situation will develop worse than expected”, — stated in the document.
the Ministry said that the real estate market, including commercial, need more time in order to react to changes in the economic situation. This industry could be under serious pressure.
Earlier, fed Chairman Jerome Powell said that the us economy may experience a “prolonged exposure” from the negative impact of the pandemic coronavirus. In his words, “the scale and pace of economic downturn is unprecedented since the Second world war”.
