7/17/1932 - 9/30/2020
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Before the covid pandemic, policymakers realized that the unemployment rate kept falling lower, and they expected a jump in inflation. They expected this because it followed the monetary policy that they have been following for years. The inflation never came and so central bank policymakers announced that they are going to come up with a new method for their monetary policy. Their method would attempt t
The US economy has not been as shaken by something like it has been by COVID-19 since the Great Depression. In fact, in the week ending July 11, 30.2 million American were receiving unemployment checks. Many small businesses suffered as a result of the pandemic. Workers could not be paid because people were not buying things that they would normally buy. Many Americans were holding on to their money because they were worried about how they were going to buy things in the future. In other words,
As the world faces an inevitable winter, it also faces economic uncertainty. On Friday, November 20th, JPMorgan economists warned of a potential decline in GDP in the first quarter of 2021. They are the first major bank to predict a decrease for the quarter, as most Wall Street economists are preparing for GDP expansion in Q1. JPMorgan attributes this potential contraction to a sudden rise in COVID-19 cases in the U.S., including a peak of almost 200,000 new cases on November 20th, as well as
In an article on Bloomburg.com they describe the recent issue of the rise in cases lately. Because of this rise, more states have added restrictions. Tses restrictions mave serve to slow the recovery of the economy as businesses are forced to close their doors once again. The article also describes how consumers are uncertain of how to act during this time. Consumer comfort levels play a large part in the recovery of the economy. This is because as consumers feel comfortable spending money, this
This article is about the impacr Fiscal deficit has on the econmomy.while reading its explains that Most people are uncertain of the effect of fiscal deficits on the economy and they dont agree with it. Up until the early 20th century. The theory that the economy would return to a normal state was opposed by Keynes. Keynes proposed a countercyclical monetary policy in response to this. This is even when Most economists advocated balanced budgets or budget surpluses. As you continue to read it g
With increasing news of a covid Vaccine the Global economic outlook looks positive. With Pfizer and Moderna claiming 94% effectiveness and Russia also claiming a vaccine with 95% effectiveness. There are now a few questions we need to ask ourselves. Who will get them first? Are there any side effects? WHo will get the Vaccine first? Now onto my point. As with a vaccine coming closer and closer the global economy should pick back up especially if these vaccines actually have 95% effectiveness. Wi
The Yahoo finance article, “Inflation May Be About to Pick Up Sharply,” the author discusses inflation during the time of the COVID-19 global pandemic. As things start to open up again, there is a concern that inflation will start to pick up over the next few months. As discussed in the article, it is hard to predict inflation, as it can spike suddenly, but data shows that prices are starting to rise. Although, it is not solely due to the reopening of the country. As stated in the article, impor
This is an article about the US national debt and how COVID effected it. It gives a slight background to the debt and how it has played a role in the federal budget since Nixon was in the office. It also shows that only 4 out of 48 years the budget has been in surplus (8%). It then goes into how the debt has risen over each of the presidential terms and gives great visual representations of how the debt has been increasing exponentially with almost every president.
Another big part of the article
This article is about how a contested election is affecting the economy. The economy at the moment is being looked at that the recovery being made is a "K shaped recovery". This means that the upper class is doing better off than those at the bottom who continue to struggle. It is believed by some that the senate control is at least as important as the White House. Under a narrow Republican Senate majority, we would expect no major tax increases but also a fiscal stimulus package of less than $1
While the Democratic and Republican parties have routinely disagreed on economic policy throughout history, it has been customary for presidents to leave their successor with solid footing to promote economic change. This has been seen in every transition of power over the past 30 years, excluding the winning of consecutive terms by a single president, no party has held office over two consecutive presidencies. This does not seem to be the case with the upcoming transition of power between Presi
Joe Biden was believed to be the president-elect after winning Georgia, 2 weeks later current President Donald Trump still refuses to concede the election. Without a smooth transition of power between presidents, the country will likely suffer greatly. With a disagreement in leadership, a relief stimulus will be virtually impossible to pass. Due to COVID-19, many families currently cannot return to traditional workspaces due to health risks. The first stimulus ended months ago and some citizens
With the passing of the United States election, besides waiting to see who will become the next president many people are looking to see what the future of the United States economy will be. One of the main reasons that many, if not all foreign nations look and focus their attention to the United States during our election season is because of foreign trade agreements and our stock market. Depending on how an election goes, the next president usually passes trade agreements with other foreign na
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