Funding Passed in the American Rescue Plan Act Will Help State and Local Governments Rebuild and Recover from Economic Fallout of COVID-19 Washington, D.C. – Today, Colorado U.S. Senator Michael Bennet announced over $5.7 billion in funding for state and local governments in Colorado as they continue to rebuild and recover from the economic fallout of the Coronavirus Disease 2019 (COVID-19) pandemic. The funding comes from the Coronavirus State and Local Fiscal Recovery Funds, established by the American Rescue Plan Act. “The COVID-19 public health and economic crisis has taken a toll on communities across Colorado, and we still have some hard months ahead as our local communities continue to rebuild and recover,”
Boston (PRWEB) May 05, 2021 BOSTON – A spate of new incentive and subsidy programs seeking to lure talented workers and innovative businesses away from
Looming danger of debt Prepare for exit strategy to ensure fiscal health The country s national debt has increased to its highest level, driven by the unprecedented public health crisis. The Ministry of Economy and Finance said Tuesday that the national debt, comprised of bond issuances and borrowing by central and local governments, hit a record 846.9 trillion won ($750.5 billion) as of the end of last year, up 17.1 percent from 2019. The double-digit increase was inevitable for the country to minimize the economic fallout from the COVID-19 pandemic. The Moon Jae-in administration executed four rounds of supplementary budgets totaling 67 trillion won to offer emergency relief to individuals and businesses hit by the worldwide coronavirus outbreak. It had to increase the issuance of treasury bonds to fund the aid. Large-scale economic stimulus packages also raised the debt level.
Announcement doubles down on Beijing’s commitment to move away from decades-old reliance on debt-driven growth Analysts expect China’s leadership to focus on tackling growing implicit debt piles, particularly at local government levels
Tired of waiting for help, some states have begun passing their own COVID-19 aid yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
How Should We Think About Full Employment In The Federal Reserve s Dual Mandate? Federal Reserve Governor Lael Brainard - At The Ec10, Principles Of Economics, Lecture, Faculty Of Arts And Sciences, Harvard University, Cambridge, Massachusetts (Via Webcast) Date 24/02/2021 I want to thank Jason Furman and David Laibson for inviting me to join your economics class. I often found it difficult in introductory economics to connect the abstract concepts in the textbooks to the real-world issues I cared about. So the one message I hope you remember from today is that economics provides powerful tools to enable you to analyze and affect the issues that matter most to you.1
Russian Foreign Minister Sergei Lavrov lambasts the West for failing to unite globally in the fight against the pandemic and its economic fallout, in an address to the UN Human Rights Council. The move has further strained relations between Moscow and the West, which have seen tensions at their highest since the end of the Cold War.
Unemployment shock Time to focus on deregulation to create jobs South Korea saw nearly 220,000 jobs disappear ast year, the largest loss since 1998 when the country was hit by the Asian financial crisis. The employment shock stemmed from the unprecedented COVID-19 pandemic. According to Statistics Korea, the number of employed people stood at 24,904,000 in 2020, down 218,000 from the previous year. The number of unemployed people surged to 1.1 million, the largest since 2000, bringing the official unemployment rate to a 20-year high of 4 percent. The gloomy figures show how difficult it has been to prevent mass job losses and offer more employment opportunities in the face of the devastating economic fallout from the coronavirus. It can be said that the setback was inevitable given the worldwide public health crisis; yet the question is whether the government and businesses did their best to minimize the fallout.
President-elect Joe Biden on Thursday will unveil a $1.9 trillion package to provide economic relief to Americans and businesses and help fund an ambitious coronavirus vaccine program with the goal of reaching 100 million doses by the end of his f