Is the U.S. economy in a recession or depression? Here’s what top economists say
A deep, prolonged downturn separates the inevitable recession from its uglier counterpart, the depression.
7 min read
Jun 12, 2020
EXPERTISE
- Economy
- Federal Reserve
- U.S. economic policy
- Personal finance
- Taxes
- Unemployment insurance (UI)
EDUCATION
- Bachelor of Science in News-Editorial Journalism, University of Illinois at Urbana-Champaign
- Master of Science in Journalism, Northwestern University
The Federal Reserve is one of the most complex institutions in the world; yet, its decisions impact consumers’ wallets more than any other policymaker in Washington, D.C. My goal is to remove some of the mystery surrounding the U.S. central bank, so you can be an even smarter consumer.
— Sarah Foster
About the author
Bankrate.com writer Sarah Foster covers the Federal Reserve, the U.S. economy and economic policy. Originally from a small town in rural Illinois, Foster developed a passion for economics while watching her community recover from the Great Recession. She witnessed just how much Main Street is impacted by Wall Street and saw firsthand that the Federal Reserve’s most well-intentioned policies can still leave those most desperate for help behind.
Experience
Sarah previously worked for Bloomberg News, the Chicago Tribune and the Chicago Daily Herald and has been quoted in several national and regional media outlets, including Yahoo! News, NBC, the Toronto Star, the St. Louis Post-Dispatch and more.
Media mentions
The Federal Reserve is one of the most complex institutions in the world; yet, its decisions impact consumers’ wallets more than any other policymaker in Washington, D.C. My goal is to remove some of the mystery surrounding the U.S. central bank, so you can be an even smarter consumer.
— Sarah Foster
Sarah's latest articles
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Fed signals near-zero rates here to stay through at least 2022
With the U.S. economy facing a sharp recession, rock-bottom rates are expected to continue.
6 min read Jun 10, 2020 -
Forecast survey: Fed seen as keeping rates at rock bottom through yield-curve control
The Fed will turn to new tactics that include capping yields and expanding its balance sheet.
7 min read Jun 05, 2020 -
Preview of the Fed meeting: 4 big questions facing the Federal Reserve post-coronavirus
The financial and economic hardship is far from over.
7 min read Jun 05, 2020 -
Survey: America’s top economists expect double-digit unemployment rate into 2021
Forecasts were wide-ranging when it comes to predicting how much damage the pandemic caused.
8 min read Jun 03, 2020 -
Survey: Majority of Americans believe it’s too soon to reopen local businesses after coronavirus
Americans remain cautious about making in-person trips to businesses.
8 min read May 18, 2020 -
The unemployment rate, explained – and why the coronavirus crisis has caused it to skyrocket
Joblessness has surged to catastrophic levels not seen for nearly a century.
9 min read May 08, 2020 -
Here’s what the Fed has to see before lifting interest rates from rock bottom
One of the Fed’s greatest fears is a slow and grueling economic recovery.
8 min read May 08, 2020 -
Fed expects to hold rates near zero until economy has weathered ‘severe’ virus effects
The coronavirus pandemic has brought the U.S. economy to its knees.
5 min read Apr 29, 2020 -
Forecast survey: Economy’s slow rebound from coronavirus free fall will keep Fed on hold until 2022
It could take years for growth and unemployment to return to where they were before the pandemic.
6 min read Apr 24, 2020 -
Preview of the Fed meeting: What’s left in Powell’s coronavirus recession playbook?
The Fed’s biggest priority should be making sure as little as possible breaks on the way down.
8 min read Apr 24, 2020 -
How the Fed is trying to rescue the economy from the coronavirus with an emergency stash of cash
It’s pushed the Fed down a new, uncharted path.
5 min read Apr 15, 2020 -
Survey: 31% of Americans expecting a stimulus check say it won’t keep them going a month
Half of Americans say they’ll use their stimulus money to pay bills.
7 min read Apr 08, 2020 -
Unemployment benefits and coronavirus: Here’s who qualifies and how to apply
Even before the virus came along, the system was never the easiest to navigate.
6 min read Apr 08, 2020 -
Fed drops rates to zero in emergency rate cut due to coronavirus effects
It’s the largest emergency reduction in the Fed’s more than 100-year history.
6 min read Mar 15, 2020
