A natural question to ask, then, is whether the proposal, admittedly an opening gambit in a negotiation with Congress, might overheat the economy if implemented. The most prominent figure to warn that this may happen is Larry Summers of Harvard University. His criticisms are notable both because he was an adviser to Mr Obama and because he was hitherto perhaps the world's foremost advocate of deficit spending.
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Indeed, the arithmetic of stimulus is a second reason why the economy may heat up. Before December, total fiscal stimulus in 2020 amounted to almost $3trn (about 14% of GDP in 2019), much more than the probable fall in output. Social-distancing measures meant that much of this cash piled up in bank accounts. According to Fannie Mae, a government-backed housing-finance firm, by mid-December Americans had accumulated about $1.6trn in excess savings.
Other things to check out:
UC Santa Cruz economic impact provides foundation for thriving region
When adjusted for the size of the Monterey Bay regional economy, UC Santa Cruz’s economic impact is second only to UC Davis in the Sacramento/Tahoe region and ahead of UC Santa Barbara in what is defined as the Central Coast of California.
The report, “Economic, Fiscal and Social Impact Analysis,” was commissioned by the UC Office of the President and prepared by Beacon Economics, an independent research and consulting firm based in Los Angeles.
Yellen Confirmation Hearing: Nominee Outlines Economic Priorities as Republicans Draw Battle
Ms. Yellen made her comments at her confirmation hearing before the Senate Finance Committee. A former Federal Reserve chair, she enjoys bipartisan support and is expected to win confirmation. But the hearing underscored the challenges that the Biden administration will face in trying to put its economic agenda into place, with Republican lawmakers drawing early battle lines and voicing opposition to the $1.9 trillion stimulus package that Mr.
With Democrats holding a slim majority in the House and narrowly controlling the Senate, Mr. Biden may need the support of Republicans to get some of his priorities through Congress. But on Tuesday those lawmakers resurrected concerns about adding to the federal budget deficit to argue against Mr. Biden's plans and expressed continued opposition to several of his priorities, including sending more aid to states and local governments, boosting unemployment benefits and raising the minimum wage.
A look at Trump's economic legacy - ABC News
He summed up his position neatly during the campaign: "I'll be the greatest jobs president that God ever created."
On the campaign trail, Trump claimed to be laser-focused on bringing back manufacturing and mining jobs, renegotiating trade deals that led to work disappearing overseas and curtailing immigration.
Yet as he leaves after his one-term tenure, Trump has become the first president since Herbert Hoover during the Great Depression to depart office with fewer jobs in the country than when he entered.
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Virtual Cow College explores economics of robotic milking
For 58 years, dairy producers and other agriculture professionals from throughout northeastern Wisconsin gathered in person to learn the latest results from research on a variety of topics related to their industry.
In 2021, those participating in the sessions, sponsored by Shawano and Outagamie UW-Madison Extension offices and Fox Valley Technical College, gathered around their computers instead due to the COVID-19 pandemic.
During the first virtual session on Jan. 13, Dr. James Salfer of the University of Minnesota Extension reported on various studies related to economics of automated milking systems (AMS), commonly known as robotic milking.
Bloomberg - Are you a robot?
China to support economic recovery, avoid 'policy cliff' - state planner official |
China's economy picked up speed in the fourth quarter, with growth beating expectations as it ended a rough coronavirus-striken 2020 in remarkably good shape and remained poised to expand further this year even as the global pandemic rages unabated.
"Considering some micro market entities will still need to undergo a period of recovery - some small firms just started to 'get well from a serious illness', while others have yet to regain their stamina - macro policies will continue to maintain necessary support (for them)."
Fannie Mae increases 2021 economic growth forecast - HousingWire
Fannie Mae ‘s latest forecast projects economic growth to hit 5.3% in 2021, an increase of 0.8 percentage points from what the government-sponsored enterprise projected last month.
The forecasted growth is significantly more than the revised numbers for 2020, which Fannie Mae projects will end up as a 2.7% contraction. The company said the economy will see an especially strong uptick in the spring months, with the expansion of COVID-19 vaccination efforts and the warmer weather.
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