Although public debt has swelled to the highest in history, the International Monetary Fund (IMF) warned Friday that cutting stimulus could undermine the recovery and…
Posts published in “Economy”
The worst global economic crisis since World War II might push up to 100 million people into poverty, warns the World Bank. The international financial…
Leading international organizations on nutrition, including Action Against Hunger, Concern Worldwide, the Eleanor Crook Foundation, the International Rescue Committee, and World Vision, wrote a letter…
The “unprecedented” fiscal policy response of 11 trillion U.S. dollars worldwide has pushed global public debt to reach a record high, according to the International…
International Monetary Fund chief economist Gita Gopinath has advised governments to implement “equity-like” support instead of loans as firms increasingly become insolvent due to lower…
The UK must borrow more than 400 billion pounds over two years. The coronavirus response has led to a recession, taking a toll on public…
The Federal Reserve demonstrates that household wealth declined by $6.5 trillion from the end of 2019 to March 2020. The loss stems from a sharp…
The International Monetary Fund lowered its global growth forecast for this year and next in the wake of “The Great Lockdown.” The IMF forecasts a…
The Great Lockdown will lead to the worst depression since World War II. Not since 1870 have so many economies simultaneously experienced declines in per…
As economies begin to close again, with politicians citing increases in COVID-19 cases, retail sales have been on the increase. For instance, retail sales rose…
75 years after the creation of the Bretton Woods conference, The IMF is saying now is the hour of the Special Drawing Right (SDR), which…
Stephen Roach, a leading authority on Asia, is worried of a quickly shifting global order and the U.S. budget deficit, suggesting it might spark a…
85% of independent restaurants may be forced to close by the end of 2021, according to a report commissioned by the Independent Restaurant Coalition. “What…
The National Bureau of Economic Research Monday said that the COVID-19 crisis launched the US economy into a recession, thus ending the longest economic expansion…
Number of contracts for Manhattan apartments were down nearly 84% from May 2020 to May 2019. While there were a total of 160 contracts signed…
Nearly two billion people, more than half of the world’s workforce, could lose their job or move into part-time work in 2020, according to a…
Before the coronavirus pandemic lockdown, total household debt was more than $1.6 trillion higher than during the previous peak in 2008, increasing to $155 billion…
The House passed a $3 trillion Democratic economic stimulus bill on Friday that was largely rejected by Republicans and President Donald Trump. Passed 208-199, the…
Americans seeking unemployment benefits increased by nearly three million last week, bringing total jobless claims to 36 million––nearly a quarter of the American workforce of…
The Labor Department reported Tuesday that prices US consumers paid for groceries increased 2.6% in April, marking the largest one-month increase since February 1974.
The World Bank Group has been hands on in the response to COVID-19 with one goal in mind: “to build a more resilient and sustainable…
“For the first time in history virtually all people on earth are faced with the same, imminent common threat,” writes Jürgen Zattler for the Center…
“The coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the United States,” the Federal Reserve said as it cut interest…
New Orleans business owners will be required to maintain records of their customers as the city eases lockdown restrictions, according to Mayor LaToya Cantrell said…
White House senior adviser Kevin Hassett said last week that the U.S. faces a Second Great-Depression due to the COVID-19 pandemic. Major business leaders say…
The Federal Reserve may stop targeting inflation, the measure of price increases for goods and services over time, as the coronavirus response threatens economic depression…
With unemployment claims above 26 million, reports have surfaced that state UI systems cannot handle the volume of applications, leaving millions of laid-off and furloughed…
Global central banks have already set interest rates at record lows and earmarked trillions of dollars on asset purchases as an economic response to the…
As 26 million people have filed their unemployment claims, U.S. billionaires’ wealth increased 10% or $282 billion more since the beginning of March. Their new…
With 1 in 6 U.S. workers out of work, U.S. unemployment is reaching Great Depression levels. More than 4.4 million laid-off Americans applied for unemployment…
Instead of bailing out states at the federal level, Senate Majority Leader Mitch McConnell said he prefers states struggling with high public employee pension costs…
Public debt is skyrocketing as central banks expand their balance sheets to record levels. “The amounts being purchased are enormous, and it just tells you…
The IMF calls the quarantines and social distancing practices to contain the coronavirus pandemic “The Great Lockdown.” In a recent blog post, the Fund discussed…
Twelve Major commercial banks, and Istanbul Gold Refinery (IAR), embarked upon a project to change people’s gold saving habits, according to Ayşe Esen, CEO of…
Bank of America’s survey of global fund managers showed “extreme investor pessimism” regarding cash held to the bleak outlook they hold for the global economy.…
BlackRock, the world’s largest asset manager, will oversee the Fed’s efforts to stabilize the bond market. The central bank was tapped during the 2008 crisis,…
Brussels is moving to permit its member states to serve insects and worms as human food. The European Union’s Food Safety Authority will allow mealworms,…
In a recent op-ed, Sandrine Dixson-Declève, co-president of The Club of Rome and co-founder of The Planetary Emergency Partnership, as well as Johan Rockström, a…
The lock downs, which have swept the globe, are unprecedented. The U.S. economy is expected to wither by at least a quarter––as much as during…
With trillions of dollars ready to be injected into the U.S. economy, we could once again see a massive asset bubble, as well as a…
Minneapolis Federal Reserve Bank President Neel Kashkari said on Sunday the U.S. economy faces a “long, hard road” to recover from the hard stop implemented…
As the coronavirus outbreak has resulted in 16.8 million unemployment claims, and approximately one-third of Americans not paying April rent, JPMorgan predicts gross domestic product…
The Federal Reserve added junk bonds to the list of assets it can buy as businesses, particularly small businesses, expect to have trouble surviving the…
Nearly a third of tenants in the U.S. did not pay their rents during the first week of April, according to a landlord group. The research…
Truckers have warned that the nation’s supply chain is in jeopardy. Truckers argue they are hauling goods into COVID-19 hot spots sans protective equipment, testing…
The global economic crisis linked to the coronavirus has wiped out jobs for millions across the African continent, many of whom live hand-to-mouth in slums…
The U.S. is losing its spot as the world’s number one oil producer due to the recent oil price crash, dissipating demand and a collapse…
Denmark’s parliament passed an emergency coronavirus law on Thursday giving health authorities powers to force testing, treatment and quarantine with the backing of the police.