We are in the midst of a worldwide public health crisis. More than 6 million people have been infected by Covid-19 and more than 360,000 have died. The crisis has also brought much of the world economy to a halt. Businesses have shuttered，workers are staying home，people have temporarily withdrawn from many kinds of economic and social activity in a bid to slow the spread of the virus. The result has been substantial economic harm.

According to the International Monetary Fund's World Economic Outlook，released in April，the global economy is projected to contract by a sharp 3% in 2020，much worse than during the 2008–09 financial crisis. But there are severe risks of a worse outcome，"depending on the pathway of the pandemic and the severity of the associated economic and financial consequences."

Federal Reserve Chairman Jerome Powell gave his forceful warning about the risks to the economy，echoed IMF's views. "The scope and speed of this downturn are without modern precedent and are significantly worse than any recession since World War II." He testified before the US Senate on May 19.

Tracking Global Fiscal and Monetary Support to Fight the Pandemic