Few signs Sweden’s coronavirus strategy will save it any economic pain

24th May 2020

Sweden side-stepped a Europe-wide lockdown in mid-March, diverting from the path taken by neighboring states in the scramble to slow the spread of coronavirus. Since then, observers have been keen to see whether the Nordic state’s contrarian approach — which allowed businesses to keep running and children to keep going to school — was enlightened […]

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At least a quarter of the workforce is out of a job. How much worse will it get?

23rd May 2020

Here are some of the Q&As below, edited slightly for brevity and clarity. Where do you think our current situation will rank among the Great Depression and the Great Recession? In terms of depth, I think it will be as deep as even the Great Depression, way more than the Great Recession. But in my […]

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POLITICO-Harvard poll: Stark partisan divide on reopening America

22nd May 2020

Republicans are twice as likely as Democrats to say businesses should reopen soon.

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Trump tries on MAGA 2.0 for a pandemic era

21st May 2020

Trump aides and allies have told the president privately he has no choice but to focus his campaign on rebuilding the economy, according to three people familiar with the discussions. The president’s political advisers also say there’s reason to believe it’s a winning message. Recent campaign and public polling show Trump slightly outperforming likely Democratic […]

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Fed’s Powell warns unemployment could reach Depression-level 25 percent

20th May 2020

He said the economy stands a good chance of bouncing back more quickly than in the 1930s. “When the Depression, well, when the crash happened and all that, the financial system really failed,” Powell said. “Here, our financial system is strong.” But he took the opportunity to again warn that Congress will need to spend […]

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‘Immunity passports’ won’t reopen America

19th May 2020

“It is not yet clear which antibody responses, if any, are protective or sustained,” the Infectious Diseases Society of America said recently, cautioning against overreliance on these tests or any “passports” or licenses they generate until a lot more is known. Antibody tests aren’t useless. In fact, they are crucial for research. Accurate ones can […]

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Trump projects a sense of normal, but West Wing has a ways to go

18th May 2020

“I haven’t seen Mike Pence, and I miss him,” Trump said on Wednesday during a meeting with governors. One White House official said Pence hadn’t been to the West Wing in a little over a week. The positive diagnoses of Miller and the president’s valet quickly upended the West Wing’s routines, even if some aides […]

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IMF chief predicts three-year economic hit from coronavirus

16th May 2020

Struggling and bankrupt government have long-dreaded IMF conditions on lending, including strict limits on government outlays and privatizing assets, but while Georgieva still urges governments to “spend wisely,” the emphasis is now very much on the spending. “Spend as much as you can, and then spend a bit more for your doctors, for your nurses, […]

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Job losses have now hit 40% of low-income homes

15th May 2020

Thirteen percent of all U.S. adults, or 20 percent of people who were employed in February, were laid off or furloughed.

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Kudlow baffled by Obama’s criticism of Trump administration

14th May 2020

Trump on Friday downplayed the record unemployment rate and claimed that “those jobs will be back and they’ll be back very soon.” Asked whether that promise could be kept, Kudlow said Sunday that he didn’t want to sugarcoat the numbers, which will be very difficult for May. However, Kudlow said, “Inside the numbers, there’s a […]

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