After bottoming out in April, economic activity has continued to rise into early June, recapturing some of the collapse that occurred when most of the country locked down to contain the spread of Covid-19, according to a range of private data.
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Subsidy economics | Nairametrics
“The key issue is that if I buy crude whether, from Nigeria or anybody, I buy at an international price. If I produce product and want to sell, I should sell that product at an international price. So, I would not be affected by the decision of local pricing, it is on that concept that we went into refining” – Engr. Mansur Ahmed, Director, Dangote Group, March 2016
The laws in Nigeria don't support Dangote's Groups position. If Dangote Refinery buys local crude or imports international crude for their refinery in Lekki, they must sell at mandated local prices. In 2013, The Federal High Court sitting in Abuja declared as "unconstitutional, illegal, null and void" a proposal by the Federal Government of Nigeria (FGN) to deregulate the prices of petroleum products.
African Americans point to racial biases in economics
BALTIMORE (AP) — The field of economics is facing an upheaval, with African American scholars decrying bias in the profession and presenting evidence that leading journals have failed to publish sufficient research that documents racial inequalities.
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President Donald Trump has cited the 5.8% unemployment rate for African Americans before the pandemic struck as evidence of improving racial equality. Yet that figure was nearly twice as high as the unemployment rate for whites. And it overlooks data on housing, wealth and student debt that point to vast racial inequalities. Leading research has shown that racial discrimination has not only slowed economic gains for black Americans but also depressed prosperity for America as a whole.
Economic Reality Bites Wall Street and Trump | The New Yorker
Perceptions can change, though. After the warnings from Powell and others about the likelihood of persistent mass unemployment, a more subtle politician than Trump would be looking to temper expectations and urging Congress to pass another stimulus package quickly. Subtlety isn't in his nature, of course. With his incessant economic boosterism, he's strapped himself into his own rocket ship.
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Despite good news about unemployment rates and hiring increases, over-all joblessness remains alarmingly high, and federal aid is still needed to help stave off further losses.
Quite a lot has been going on:
Treasury Yields' Retreat Signals Economic Woes - WSJ
A selloff in U.S. government bonds that pushed yields to the highest levels since March petered out almost as quickly as it started, a sign economic pessimism and aggressive monetary stimulus remain powerful forces suppressing longer-term interest rates.
first banking institutions: View: Fake news and politics & economics of faith - The Economic
Do negative interest rates work? Economists can't agree on how effective the policy is
As the coronavirus pandemic threatens the global economy , the debate over whether negative interest rates could spur economic growth has once again come to the forefront.
But even as the U.S. faces one of its worst economic recessions in history, the Fed has — so far — steered clear of negative interest rates.
"We don't think that's an appropriate tool here in the United States," Fed Chairman Jerome Powell said last month in a webcast with Alan Blinder , a Princeton University economics professor and former Fed vice chair.
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