Lockdown mentality still holding the economy back, banking official says

10th May 2021

A variety of theories have been put forth as to why April’s numbers were not better, including the idea that people were fine with sitting home and collecting enhanced unemployment benefits, as well as concerns about continued Covid risks, a lack of decent child care and fear of using crowded public transportation. Kashkari saw merit […]

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Mark Carney on Canada’s economic growth: ‘It’s going to take more than one budget’

29th April 2021

“There were elements of growth in the balance from what I can see and understand,” Carney said in a long response that didn’t directly answer the question. “It will take a few budgets to have the type of growth strategy that meets the imperative of what we’re going through and the opportunities that come.” Politics […]

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How the Trudeau government plans to meet its climate goals

20th April 2021

The backdrop: Since coming to power in 2015, Prime Minister Justin Trudeau has stressed his government’s commitment to tackling climate change. With Canada’s economy slowly rebounding from the effects of Covid-19 amid a renewed global interest in climate issues, the government’s first budget in two years seeks to harness the recovery to its environmental policies. […]

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Biden’s spending plans collide with a resurgent U.S. economy

2nd April 2021

It’s the latest in a series of reports this week showing a resurgent economy, with consumer confidence jumping to levels not seen since the start of the pandemic and manufacturing activity surging to its highest peak in nearly four decades. The S&P 500 also closed the week at a record high. Together, the numbers signal […]

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‘Crazy things happen’: Biden’s next spending spree fuels a fight over risks

25th March 2021

Among them is the long-held fear that massive spending — coupled with persistent easy-money policies from the Federal Reserve — in an already firming economy could spark a wave of inflation, a disorienting spike in interest rates and a painful pullback in a broad range of currently high-flying assets, from home prices to tech stocks […]

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Black workers, hammered by pandemic, now being left behind in recovery

23rd March 2021

The data has fueled fears that the nascent recovery will not be evenly shared, a dynamic that would exacerbate income and wealth inequality while prolonging the return to full employment. The trend is reminiscent of the Great Recession, when Black workers saw a worse downturn and slower rate of return to normal. And this time, […]

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Fed sees U.S. economic growth surging to 6.5 percent this year

18th March 2021

“The economic fallout has been real and widespread, but with the benefit of perspective, we can say that some of the very worst economic outcomes have been avoided by swift and forceful action — from Congress, from across the government, and in cities and towns across the country,” Fed Chair Jerome Powell said at a […]

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Treasury secretary minimizes risk of inflation caused by Covid relief package

14th March 2021

Yellen said the greater risk was in not bolstering the economy — saying the federal government needed to assist people who are out of work, who are facing eviction or foreclosure, or who simply don’t have enough food to eat. “The most significant risk we face is a workforce that is scarred by a long […]

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Former Stockton Mayor Tubbs joins Newsom as economic adviser

12th March 2021

“The governor and I are in agreement that economic gains and opportunity have to be broadly shared,” Michael Tubbs said. | Rich Pedroncelli/AP Photo OAKLAND, Calif. — Gov. Gavin Newsom has tapped former Stockton Mayor Michael Tubbs, nationally known for his work on universal basic income, to become an adviser on income inequality, child poverty […]

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Biden’s ‘Morning in America’ moment sparks a furious debate

10th March 2021

It could be a Morning in America moment that further turbocharges an economy already primed to pop, reduces economic inequality and lofts Biden to the kind of economic hero status enjoyed by the likes of Franklin Delano Roosevelt after the Depression and Ronald Reagan in the boom-time 1980s. Or it could be a fiery accelerant […]

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