The GOP has loosened its commitment to sabotaging recovery (and, thus, its own electoral prospects) somewhat. Whereas weeks ago, Mitch McConnell expressed skepticism about the need for any additional fiscal aid to states or households, the party is now onboard for another relief package of some kind. One idea gaining traction in the caucus is to encourage unemployed workers to return to their (potentially unsafe) jobs by providing them with a weekly $450 bonus. There are a few obvious problems with this proposal as a replacement for enhanced unemployment benefits. Even the most bullish of economists believe the U.S. is going to have double-digit unemployment for months. Which means that millions of Americans are not going to have the option of being seduced back into the labor market by a government bonus. And those Americans are going to struggle to meet their liabilities and basic expenses if they’re forced to subsist on less than $400 a week in unemployment benefits instead of … [Read more...] about GOP Vows to Kill Only Thing Keeping Economy (and Trump) Afloat
Economy expected to see brighter prospects
Americans Turned Less Gloomy About The Economy in May
Consumer assessments of current conditions jumped 10 percent compared with April. The gauge of current conditions crashed in March and early April, falling by 40 points. But it appeared to stabilize in April, perhaps because of government payments to taxpayers, programs to stabilize employment, and enhanced unemployment benefits. Now it is on the rise again. … [Read more...] about Americans Turned Less Gloomy About The Economy in May
U.S. Economy Shrank at 4.8% Pace in First Quarter
The agency said that the coronavirus lockdown “led to rapid changes in demand, as businesses and schools switched to remote work or canceled operations, and consumers canceled, restricted, or redirected their spending. The full economic effects of the COVID-19 pandemic cannot be quantified in the GDP estimate for the first quarter of 2020 because the impacts are generally embedded in source data and cannot be separately identified.” … [Read more...] about U.S. Economy Shrank at 4.8% Pace in First Quarter
50 days of Modi government: How business and economy are shaping
Government has said that private entrepreneurships will be supported in driving value-addition to farmers’ produce from the field and for those from allied activities. Dairying through cooperatives to be encouraged by creating infrastructure for cattle feed manufacturing, milk procurement, processing and marketing. 10,000 new Farmer Producer Organizations to be formed, to ensure economies of scale for farmers. Government will work with State Governments to allow farmers to benefit from e-NAM. It will initiate Zero Budget Farming in which few states’ farmers are already being trained to be replicated in other states. … [Read more...] about 50 days of Modi government: How business and economy are shaping
India’s economy slows in March quarter, with worse to come
SAKSHI GUPTA, SENIOR ECONOMIST, HDFC BANK, GURUGRAM “While the Q4 number is higher than our expectations, we expect it to be revised down in subsequent releases as the impact of the lockdown is adequately factored in. The CSO (Central Statistics Office) mentions that the data collection activity was affected due to the lockdown in March. … [Read more...] about India’s economy slows in March quarter, with worse to come
