Original title: Moody's Corporation, a well-known American economist: a default on US debt will lead to a recession comparable to that of the Great Depression.
Source: CCTV news client
In a new analysis, Mark Zandi, chief economist of Moody's Corporation, a leading US bond rating agency, warned in a new analysis that a US default would deal a "catastrophic blow" to its economy recovering from the COVID-19 epidemic and trigger a recession comparable to that of the United States during the Great Depression (Great Recession).
Zandi predicts that if the United States fails to repay its debt and continues to procrastinate, the ensuing recession will lead to the loss of 6 million jobs in the United States. The unemployment rate in the United States will rise to 9%, and the total loss of national household wealth will be about $15 trillion. (CCTV reporter Xu Dezhi)
(editor Chen Yufan)