 TITLE: What Is the Difference Between a Recession and a Depression? CONTENT: What Causes a Recession?\n------------------------\nEvery recession is unique, and can be brought on by various economic events. In the past, factors such as oil prices, inflation, monetary policy, market crashes or issues specific to a certain industry have led to recession.\nIt can also be due to the collapse of an asset bubble; this was a major factor in kicking off the Great Recession of the late 2000s. Lax lending standards led to a wave of mortgage default and foreclosure, which caused the housing sector to collapse and pull the American economy into a full-on recession.\nUnexpected events, too, can lead to recession like we're seeing with the coronavirus outbreak and ensuing shutdown of businesses. The International Monetary Fund predicts the \"Great Lockdown\" is creating the worst economic recession the world has seen since the Great Depression. Does that mean the U.S. is headed for a depression? Not necessarily. Read on. END