Abstract
The ongoing COVID-19 pandemic's economic effects, geopolitical unrest, natural disasters, and social unrest have caused the global economy to face unprecedented difficulties and uncertainties. Numerous indicators point to the potential for a global recession or even depression, which could have catastrophic effects on millions of people. The US dollar and US consumer spending are two significant components of the global economy that are examined in this article. It examines how the COVID-19 pandemic's effects on consumer spending and the dollar's strength have affected world trade, growth, inflation, and financial stability. Additionally, it discusses a few possible regional and national policy responses to these problems. The article provides a thorough and critical overview of these subjects by utilizing theoretical insights and empirical data from various sources. It aims to inform and captivate readers who are curious about the state and prospects of the global economy today.
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