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Paycheck Protection, Frontline Banks, Austerity Debate: Eco Day
Paycheck Protection, Frontline Banks, Austerity Debate: Eco Day
01 May 2020, 05:18 PM IST
(Bloomberg) -- Welcome to Friday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
(Bloomberg) -- Welcome to Friday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- The Fed is expanding a program that helps the government provide stimulus loans to small businesses and is designed to keep workers on payrolls during the coronavirus pandemic
- Jerome Powell risks putting the central bank into a political box once the health emergency has passed. The big worry is that Fed policy will end up being driven by the need to manage the costs of government debt –- preventing the central bank from taking actions that the economy might otherwise require
- As states start lifting their lockdown orders, America’s burger joints, pizzerias, taquerias and diners find themselves on the reopening economy’s front line
- Prime Minister Justin Trudeau’s government is ready to name a new leader at the Bank of Canada. Carolyn Wilkins, who has played a key role in the central bank’s response to the coronavirus crisis, was one of two finalists for the job, according to people familiar with the matter
- The European Central Bank’s surprise tweaks to monetary policy amount to an effective interest-rate cut that puts banks on the frontline of the euro area economic recovery
- The euro-area economy could shrink as much as 12% this year and fail to return to its pre-coronavirus size until the end of 2022, according to the ECB
- As the U.K. figures out how to restart its economy, the realization that key workers bore the brunt of spending cuts after the last crisis is shaping the debate over who pays for the latest one
- The coronavirus is killing people in the poorest parts of the U.K. at more than twice the rate as elsewhere, according to data compiled by the Office for National Statistics
©2020 Bloomberg L.P.
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