The collapse in the financial markets may happen again. This is stated in the report of the US Federal Reserve on financial stability.
Asset prices remain vulnerable amid the coronavirus COVID-19 pandemic.
“Uncertainty still remains high, and markets remain volatile compared to historical norms, which suggests the possibility of further price reductions if the situation develops worse than expected”, – the document says.
The agency noted that the real estate market, including commercial, needs more time in order to respond to changes in the economic situation. This industry may be under serious pressure.
Earlier, Fed Chairman Jerome Powell said the US economy could experience “lasting impact” from the negative effects of the coronavirus pandemic. According to him, “the scale and pace of the economic recession have not had precedents since the Second World War”.