WASHINGTON — The Federal Reserve left interest rates near zero on Wednesday and pledged to keep supporting the United States economy as the pandemic continues to depress economic growth and sideline millions of workers.
"The path of the economy will depend significantly on the course of the virus," the central bank said in its post-meeting statement , which reiterated that the Fed will keep low rates in place "until it is confident that the economy has weathered recent events."
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GSU economics professor shares causes, possible solutions to national coin shortage | WSAV-TV
SAVANNAH, Ga. (WSAV) — Amid the ongoing coin shortage, larger retailers across the United States are asking customers to keep the change.
With fewer coins in circulation during the COVID-19 pandemic , businesses have begun requesting payments in either exact change or via debit and credit cards.
Georgia Southern University (GSU) economics professor, Dr. Richard McGrath, says the issue is partly due to a drop in person-to-person transactions when businesses and banks closed as a response to the outbreak.
NationalReview.com Launches New Section to Cover Business, Finance, and Economics from a NATIONAL
Through charts, infographics, and timely commentary from well-known financiers, economists, entrepreneurs, business people, and other specialists, the objective of this initiative is to change the terms of debate over our country's economic future for the better.
"Despite the uncertain economic times, we are keeping our strategic growth goals for this project because of its relevance and importance. In the same spirit that led William F. Buckley Jr. to found National Review, National Review Institute is proud to collaborate on this new project to explain, defend, and celebrate capitalism.
U.S. is expected to report a record-breaking economic plunge | PBS NewsHour
WASHINGTON (AP) — Having endured what was surely a record-shattering slump last quarter, the U.S. economy faces a dim outlook as a resurgent coronavirus intensifies doubts about any sustained recovery the rest of the year.
A huge plunge in consumer spending as people stayed home and avoided shopping, traveling or gathering in crowds as the virus raged is estimated to have sent the economy sinking at a roughly 32% annual rate in the April-June quarter. That would be more than triple the previous worst quarterly economic fall, a 10% drop set in 1958.
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'This Is About Justice': Biden Ties Economic Revival to Racial Equity - The New York Times
WILMINGTON, Del. — Joseph R. Biden Jr. unveiled wide-ranging plans on Tuesday to address systemic racism in the nation's economy, saying this year's election was about "understanding people's struggles" and pledging to tear down barriers for minority-owned businesses.
"This election is not just about voting against Donald Trump," Mr. Biden said, standing before four American flags in a community center gym. "It's about rising to this moment of crisis, understanding people's struggles and building a future worthy of their courage and their ambition to overcome."
Zelenskyy's bad economics: Inflation and devaluation will not help Ukraine grow - Atlantic
A woman walks past a board in central Kyiv displaying the latest currency exchange rates. July 2, 2020. REUTERS/Gleb Garanich
In the 1970s, much of the Western world was enamored with a similarly simplistic form of Keynesian economics. More money was considered better, and how this was financed was not perceived as important. Central banks were subordinate to governments. The conventional wisdom ran that if unemployment rose, a country needed to accept higher inflation, which would reduce unemployment and promote growth.
Lawrence woman starts sewing class, bringing back home economics skills
LAWRENCE, Kan. (KSNT)– Some people may not have ever had the chance to learn to sew, especially as home economics classes became less common. So, 24-year-old Catherine Bell is bringing back the skill, taking the teaching into her own hands.
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Catherine is eight out of 11 kids, so she had a lot of practice making shirts, stiching and fixing, right in her home.
Her love for embroidery was more than a hobby. She went to Johnson County Community College for apparel design and technology, interning with companies like Victoria’s Secret and J. Crew in New York.
Free exchange - Why real-time economic data need to be treated with caution | Finance &
T HE GLOBAL downturn of 2020 is probably the most quantified on record. Economists, firms and statisticians seeking to gauge the depth of the collapse in economic activity and the pace of the recovery have seized upon a new dashboard of previously obscure indicators. Investors eagerly await the release of mobility statistics from tech companies such as Apple or Google, or restaurant-booking data from OpenTable, in a manner once reserved for official inflation and unemployment estimates.
Happening on Twitter
Federal Reserve Chair Jerome Powell: "The current economic downturn is the most severe in our lifetimes." https://t.co/XQ9ZxlzDvi kylegriffin1 (from Manhattan, NY) Wed Jul 29 21:30:50 +0000 2020
Of course, no Congressman will ask about YouTube artificially boosting mainstream media channels to the top of sear… https://t.co/2QShuyPf5X MarkDice (from MAGA Country) Wed Jul 29 18:59:12 +0000 2020
The U.S. Federal Reserve is expressing concern that the viral outbreak will act as a drag on the economy and hiring… https://t.co/xj6rrUoEnk AP (from Global) Wed Jul 29 18:15:39 +0000 2020
This is the new not-normal normal A majority of global 60T$ bonds yield near-zero to negative rate @FT article sa… https://t.co/5QqXS2N2yi AtifRMian (from Princeton) Tue Jul 28 13:26:05 +0000 2020
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