Highlights rebounding from covid19 and Silicon Valley bank which was under the regulation of the San Francisco Federal Reserve. This is just under an hour. Good morning im director of the hutchens center at brookings i want to welcome everybody and pleased to have mary daily, president of the Federal Reserve bank of San Francisco with us today and mayor daily an economist joined the San Francisco fed in 1996. And she worked on a number of issues labor market dynamics, inequality and throws to be director of research and became president in 2018. Now shes one of 12 reserve Bank President s. And except for new york, the other 11 are sort of considered the same. But mary daily has the distinction her district because we do the lines in 1913 represents fifth of the nations population but unfortunately for her they dont do population waiting when you vote on the f1c. Maybe they should. [laughter] so president i wanted to start by talking a little bit about how do you read the economy right
Indianapolis Union President chuck jones vowing to cancel boeings order for a new air force one and taking aim at private citizens have drawn criticism while the polls show most americans think there trump tweets too much. Our question for truers today, should donald trump stop weeting . Call the numbers at the bottom 6 your screen. Treeth us. And just this morning as we said, the senate had a marathon session that just ended this morning and also was an Early Morning for the president elect who has taken to his twitter account already amid reports he will remain executive browser for the Apprentice Television show during his tenure as president. He tweeted reports by cnn, ill be working on the apprentice during my presidency even parttime are ridiculous and untrue. Fake news. The president elect tweeted just early this morning. Hes referring to reports as the New York Times reports today that starting next month mr. Trumps most visible business interest will be beamed directly into mi
Every parent knows that kids are expensive. But in addition to shelling out more when you have offspring, parents also often earn less. This makes the little darlings doubly expensive.See: Grant.
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Eduardo Levy Yeyati, Samuel Pienknagura
In 2020, GDP in Latin America and the Caribbean (LAC) is expected to contract by 8.1% compared to only 4.3% in the US. Relative to pre-pandemic expectations, downward revisions to growth in 2020 has been 3.5 percentage points higher in LAC than in the US. And this divergence is likely to endure: according to the IMF, “most countries [in LAC] will not go back to pre-pandemic GDP until 2023, and real income per capita until 2025,” whereas the US is expected to recover fully by 2022.
What is behind the asymmetric consequences of COVID-19?
Whereas differences in access to international capital and fiscal space may have played a part, most of the short-lived spike in Latin American sovereign spreads was offset by the flattening of international interest rates and rapidly reversed, with a neutral net effect in financing costs (Levy Yeyati and Valdés 2020). Instead, the nature of the labour market can help explain North-South differences i