Office of Financial Research Annual Report to Congress, 2020




There remains a striking contrast between the quick recovery of financial markets and the slower recovery of the economy, which experienced the highest unemployment rate since World War II (see Figures 5 and 6). The possibility remains for heavy ongoing credit losses and failures. Consumer spending and business investment face pervasive uncertainty about the course of the pandemic and its consequences.

Date Accessed: 6 April 2021

Publication Site: Office of Financial Research