United States

Coming soon: At least $1.7 trillion in government stimulus to help sick economies

London (CNN Business)Governments around the world have announced massive amounts of fiscal stimulus this week, aiming to limit the severity of a sharp recession as the coronavirus pandemic shuts down country after country.Morgan Stanley says spending commitments from the United States, Europe, Japan, the United Kingdom and China add up to at least $1.7 trillion — so far."While the initial response from developed economies was slow, over the last few days — as economic and financial market disruptions persist — we have started to see strong commitments from policy makers, indicating a sizable fiscal expansion plan is in the offing," Morgan Stanley chief economist Chetan Ahya told clients this week.That includes the $1 trillion package ...