To avoid continuing in the K shape, Clark called on lawmakers to send out more PPP funding for small businesses, and more resources to state and local governments to bolster essential services like public education. “Congress might see 20+ percentage points of growth in Q3 and think we’re out of the woods,” she said. “They would be sorely mistaken. For laid off workers and for businesses barely scraping by, the crisis is as acute today and it was in March.” … [Read more...] about Forget U or V or W: We may be headed toward a K-shaped recovery
"The UK, India, France, Italy and Spain stand out, having experienced stringent and/or lengthy lockdowns in 2Q20 which saw mobility (visits to retail and recreation venues) levels fall very sharply and 2Q20 GDP surprise on the downside compared with our June GEO estimates," Fitch added. … [Read more...] about India GDP: Fitch cuts FY21 growth projections further, expects 10.5% contraction
At stake is New York’s financial health and its status as the world’s corporate headquarters. There is more square feet of workspace in the city than in London and San Francisco combined, according to Cushman & Wakefield, a real estate brokerage firm. Office work makes up the cornerstone of New York’s economy and property taxes from office buildings account for nearly 10% of the city’s total annual tax revenue. … [Read more...] about COVID-19 | Manhattan’s office buildings are empty. But for how long?
How are the bill’s chances? Not too great. While Republicans are gunning for a vote as soon as Thursday, the bill—which was put forth after Congress returned from August recess and nearly a month after negotiations stalled on Capitol Hill—is unlikely to gather the 60 votes needed to pass the Senate. … [Read more...] about The GOP’s ‘skinny’ stimulus bill: Here’s what it includes for education—and what it lacks
Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time. … [Read more...] about European Central Bank’s stimulus train to keep on rolling