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Big Deficits, U.S. Stimulus, Canadian Insolvencies: Eco Day
Big Deficits, U.S. Stimulus, Canadian Insolvencies: Eco Day
09 Oct 2020, 05:33 PM IST
(Bloomberg) -- Welcome to Friday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- Financial markets are warming to the idea that the U.S. economy could get a Biden bounce -- but it hinges on a new government being able and willing to run big budget deficits
- The White House shifted tack on Thursday, signaling that the administration is again leaning toward a large-scale stimulus bill after House Speaker Nancy Pelosi pushed back on the idea of individual measures for parts of the economy hit by the Covid-19 crisis
- Federal Reserve officials kept up pressure for Washington to renew fiscal support for the virus-ravaged economy
- Bank of Canada Governor Tiff Macklem said negative interest rates remain an option, even if policy makers aren’t currently considering such a move
- The number of insolvency filings in Canada plunged to the lowest level since 1996 as massive cash injections from the federal government kept households afloat during the Covid-19 pandemic
- Argentina’s central bank is taking steps to tighten its monetary policy and encourage banks to buy local peso assets
- The World Food Program was awarded the 2020 Nobel Peace Prize for its efforts to combat hunger, particularly in conflict zones
- Developing countries show signs of emerging from the pandemic more quickly than advanced economies
©2020 Bloomberg L.P.
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