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March 7, 2021

economic

Fed Chairman Powell says economic reopening could cause inflation to pick up temporarily

CNBC
CNBC – For more and to sign up click here Federal Reserve Chairman Jerome Powell said Thursday that he expects some inflationary pressures in the time ahead but they likely won’t be enough to spur the central bank to hike interest rates. “We expect that as the economy reopens and......

Senate confirms Cecilia Rouse as the first Black chair of White House economic council.

New York Times
The Senate voted on Tuesday to confirm Cecilia Rouse, a Princeton University economist, as the chair of President Biden’s Council of Economic Advisers, making her the first Black leader of C.E.A. in its 75-year history. The final vote was 95 to 4. Dr. Rouse is the dean of the Princeton......

Mexico sees USMCA as tool for post-COVID economic recovery

Reuters
FILE PHOTO: A man crosses the Paso del Norte border bridge towards El Paso, Texas, U.S., as seen from Ciudad Juarez, Mexico, July 1, 2020. REUTERS/Jose Luis Gonzalez MEXICO CITY (Reuters) – Mexican Economy Minister Tatiana Clouthier told U.S. Secretary of State Antony Blinken in a virtual meeting on Friday......

Raising rates abruptly could jeopardise economic recovery: ECB’s Schnabel

Reuters
FILE PHOTO: Isabel Schnabel, member of the German advisory board of economic experts attends the 29th Frankfurt European Banking Congress (EBC) at the Old Opera house in Frankfurt, Germany November 22, 2019. REUTERS/Ralph Orlowski/File Photo BERLIN (Reuters) – Raising interest rates too abruptly could jeopardise economic recovery, European Central Bank......

U.S. retail sales to rise 6.5% to 8.2% in 2021, as Covid vaccine triggers fastest economic growth in over two decades, NRF says

CNBC
CNBC – For more and to sign up click here Customers wearing protective masks exit a Uniqlo store in San Francisco, California, on Wednesday, Feb. 17, 2021. David Paul Morris | Bloomberg | Getty Images Retail sales are expected to grow this year between 6.5% and 8.2%, amounting to more......

New York City needs leaders to save it from economic disaster

NYPost
Post Editorial Board COVID and the lockdowns have kneecapped the city economy. Gotham’s leaders need to move fast, and boldly, to reverse the damage, or risk a downward spiral. As The Post’s special report this week lays out, nearly half the city’s small businesses remain closed; revenue among those open......

Here’s what NYC needs to do to start its economic comeback

NYPost
Steve Cuozzo The ghost-storefront blight represents an existential threat to New York City’s future. Left unaddressed, it will crush the Big Apple’s normally indomitable spirit. Who wants to live or work where blocks of empty storefronts shout “failure” and provide sidewalk loitering grounds for drug dealers and vagrants? Abandoned storefronts......

‘Explosion of economic activity’ may put inflation fears in check. Here’s why

CNBC
CNBC – For more and to sign up click here National Securities’ Art Hogan believes inflation won’t spell trouble for Wall Street this year. He acknowledges rising Treasury yields typically put pressure on future growth. But in this case, Hogan sees an epic corporate earnings comeback mitigating the impact. “We’re going......

Stronger economic data could power stocks that thrive in a rebound in the week ahead

CNBC
CNBC – For more and to sign up click here The bull of Wall Street is seen during the pass of the snowstorm on January 31, 2021 in New York City. Eduardo MunozAlvarez | VIEW press | Corbis News | Getty Images A decline in new Covid infections, along with......

Fed’s Williams say high market prices justified by economic growth and low rates

CNBC
CNBC – For more and to sign up click here New York Federal Reserve President John Williams said Friday that high prices for stocks and other assets are justified in light of a growing economy and low interest rate landscape. With stocks pushing to new heights on valuations not seen......

Biden says U.S. and Europe must push back against China’s economic ‘abuses and coercion’

CNBC
CNBC – For more and to sign up click here President Joe Biden said Friday that the U.S. and its international partners must hold China to account for its economic practices. “We have to push back against the Chinese government’s abuses and coercion that undercut the foundations of the international......

Ken Griffin says he doesn’t see ‘economic underpinning’ of cryptocurrencies

CNBC
CNBC – For more and to sign up click here Ken Griffin speaking at the 2018 Delivering Alpha Conference in New York on July 18th, 2018.  David A. Grogan | CNBC Citadel CEO Ken Griffin said Friday that he doesn’t spend much time thinking about bitcoin or other cryptocurrencies. “I......

BOJ’s Kuroda says stock boom reflects economic optimism, defends ETF scheme

Reuters
FILE PHOTO: Bank of Japan (BOJ) Governor Haruhiko Kuroda attends a news conference at the BOJ headquarters in Tokyo, Japan June 20, 2019. REUTERS/Kim Kyung-Hoon TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Tuesday the recent stock price rally reflected market optimism over the global economic outlook,......

COVID economic and mental health impact may damage young people forever

USA Today
USA TODAY – For more and to sign up click here USA TODAY Scott A. Bass Stopping the spread of the novel coronavirus, opening schools and reigniting the economy is job one for President Joe Biden and his administration. However, long after the virus is contained, and students are back......

Op-ed: Recent antitrust proposals could ‘throw sand in the gears’ of economic recovery by stalling M&A

CNBC
CNBC – For more and to sign up click here Senator Amy Klobuchar speaks at the Democratic 2020 U.S. presidential candidates debate at Saint Anselm College in Manchester, New Hampshire, U.S., February 7, 2020. Brian Snyder | Reuters There is growing hostility to mergers and acquisitions (M&A) among an increasing......

Large bipartisan majority of Americans favor more COVID economic relief

CBS News
CBS News – For more and to sign up click here A very large and bipartisan majority of Americans would support congressional passage of a new stimulus bill to help those impacted by the pandemic, and many would prefer that it receive bipartisan support in Congress, too. Meanwhile, a majority......

Dollar nurses losses as U.S. economic doubts undercut rally

Reuters
TOKYO (Reuters) – The dollar nursed losses against most currencies on Monday as disappointing U.S. jobs data caused some investors to scale back bets on a rebound in the greenback. FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee......

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