Finance Minister Nirmala Sitharaman on Friday said the "steadiness" in the economy is a good sign, soon after the official data showed the December quarter GDP growth at 4.7 percent. Speaking at CNBC TV 18's business leadership awards event, Sitharaman made it clear that she was not expecting a jump in the number either. … [Read more...] about With Q3 GDP growth at 4.7%, FM Sitharaman says ‘steadiness’ in economy is a good sign
Economy
Fed Chair Jerome Powell Announces Fed Will Act as Appropriate to Stem Coronavirus Damage to Economy
Today, futures imply no chance that the target remains unchanged, around a 53 percent chance for a 25 basis point cut, and a 47 percent chance of a 50 basis point cut. Further out, fed fund futures indicate that there may be as many as four or five interest rate cuts this year. … [Read more...] about Fed Chair Jerome Powell Announces Fed Will Act as Appropriate to Stem Coronavirus Damage to Economy
NYTimes: Import More Workers to Expand the Economy
They’re going to have to evolve once again, and it is not a question of importing some other immigrants- – for example, Ecuadorians, Congolese or Burmese — but they will have to move towards modernizing their operations. Those who do not want to modernize may shut their doors or go into other businesses. That’s s OK too. But it is not Congress’ job to make sure the economy freezes and stays unchanged. Congress’s job is to set the parameters … and let the market work. … [Read more...] about NYTimes: Import More Workers to Expand the Economy
Powell: Federal Reserve Will Use ‘Tools’ to Support Economy
In Europe, the FTSE 100 in Britain and the DAX in Germany fell more than 4 percent. Leading European stock markets have tumbled around 12 percent in just one week. Travel and leisure stocks were among the biggest losers in the European market, as people continued to cancel travel. … [Read more...] about Powell: Federal Reserve Will Use ‘Tools’ to Support Economy
Japan’s Abe says ready to protect economy from coronavirus impact
“It’s true Japan’s economy is in a pretty tough condition,” due to cancellations of various events,” economy minister Yasutoshi Nishimura told parliament on Friday. “But the priority now is to prevent the virus from spreading.” … [Read more...] about Japan’s Abe says ready to protect economy from coronavirus impact
