WASHINGTON — President Biden and his top economic aides brushed aside criticism from Republicans on Friday about the administration's $1.9 trillion stimulus package and vowed to forge ahead with the proposal, saying the bill was critical for a flagging economic recovery and overwhelmingly popular with voters.
The comments came as Mr. Biden was briefed by aides on the need for more fiscal help and the state of the economy, and as new analysis from the Brookings Institution suggested the Biden proposal, if enacted, would vault the economy above its prepandemic path by the second half of this year.
And here's another article:
Border economy to pick up in second half of 2021, region’s economists say | KTSM 9 News
EL PASO, Texas (Border Report) – El Paso County is closing out the month with the unemployment rate still hovering around 8.1%. But, what will the rest of 2021 bring to this border region?
If the COVID-19 vaccines keep coming, El Paso, Southern New Mexico and Chihuahua, Mexico, should begin to see more jobs, increased trade and more air travel, according to the University of Texas at El Paso’s Borderplex Business Barometer.
A product of the Border Region Modeling Project, the January report from the university's Department of Economics and Finance came up with economic predictions for the region in the coming months.
Local economics experts weigh-in on GameStop stock market frenzy | wgrz.com
NEW YORK — The GameStop stock market frenzy has left a lot of questions lingering about the future of the stock market.
Local economic experts say the impact of recent events will depend on what happens in the coming weeks.
"Well, I think the impact is going to be partly determined by what regulators decide to do. Do they find there is fraud going on here or not? I don't know at this point. Are there going to be trading restrictions that are going to be applied?" said Ogorek Wealth Management President, Anthony Ogorek.
UnStoppable - The frenzied rise of GameStop | Finance & economics | The Economist
A WEEK AGO few people had probably heard of GameStop, the beleaguered brick-and-mortar purveyor of video games. Millennials might recall visiting a store in their youth; their parents, perhaps, taking them. None can claim ignorance now. The firm's share price has spiked from a few dollars in 2020 to a peak of more than $350 on January 27th, transforming a firm that was valued at less than $200m in April 2020 into a $24bn middleweight.
* * *
Why such a fuss? Perhaps because the story itself is staggering. There is a tiny nugget of sense in GameStop being worth more now than it was last year. In August Ryan Cohen, the former boss of Chewy, an online pet-food store, began amassing a large stake. In November he turned activist, writing to the board to urge it to invest in e-commerce. The board liked his plan and offered him and his former colleagues seats. Investors liked it too. By January 11th, his first day as board member, the
And here's another article:
Economists predict quicker recovery from COVID recession
The local, state and national economy should bounce back more rapidly from the hits it has taken during the COVID-19 pandemic than it did from the Great Recession, according to University of Colorado Boulder economists who spoke Thursday at the virtual "2021 Economic Forecast: Boulder and Beyond."
"We think this recovery's going to be substantially quicker," said Rich Wobbekind, senior economist and associate dean for business and government relations at CU Boulder. "The 2008-10 recession was really a global financial crisis. We needed to repair the financial system and the economic system. That took many years to fully repair — over six years to get back to the same level of jobs.
Economics alumnus named one of Forbes' 30 Under 30 for 2021 | UTSA Today | UTSA | The
JANUARY 29, 2021 — Forbes has recognized UTSA alumnus Corey DeAngelis ’12, M.A. ’15 among its list of 30 Under 30—the magazine’s annual nod to young trailblazing entrepreneurs, activists, scientists and entertainers who are making the most significant impact.
DeAngelis is the director of school choice for the Reason Foundation and executive director for the Educational Freedom Institute—both libertarian think tanks based in Washington, D.C.
The folly of buying local - Buy American is an economic-policy mistake | Leaders | The Economist
The "Buy American" agenda is long-running. A law passed in 1933 requires the federal government to prefer domestically produced goods to foreign ones; it is reinforced by an unwieldy mass of similar state and local rules. The stimulus Mr Biden oversaw as vice-president after the global financial crisis targeted American suppliers with American supply chains. President Trump issued reams of executive orders aiming to favour domestic firms over their foreign competitors.
Mr Biden campaigned on going further than Mr Trump, whom he castigated for not doing enough. It will take more than a stroke of the pen to fulfil that promise. As past administrations have discovered, America's commitments to the World Trade Organisation ( WTO ) constrain its ability to discriminate in favour of its own firms (see article ).
Democrats Prepare to Move on Economic Aid, With or Without the G.O.P. - The New York Times
Party leaders remain hopeful that Mr. Biden can sign his so-called American Rescue Plan into law by mid-March at the latest, even with the competing demands of a Senate impeachment trial of former President Donald J. Trump, which is set to begin the week of Feb. 8.
"We want it to be bipartisan always, but we can't surrender if they are not going to be doing that," Speaker Nancy Pelosi of California said at a news conference on Capitol Hill.
"I do think that we have more leverage getting cooperation on the other side if they know we have an alternative as well," she added.
Happening on Twitter
Headlines from our poll on Biden's First 100 Days: - Biden's agenda is extremely popular and has bipartisan suppor… https://t.co/nWiznt6cOZ jonfavs (from Los Angeles, CA) Thu Jan 28 15:32:38 +0000 2021
President Biden's top economic adviser warned on Friday that the U.S. economy is in a "precarious" position and tha… https://t.co/HnDz5dyOVO nytimes (from New York City) Fri Jan 22 22:00:08 +0000 2021
President Biden plans to sign an executive order today that would increase food stamp benefits to help people going… https://t.co/kgSvCpvBQ7 NPR Fri Jan 22 15:45:06 +0000 2021
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