PRESIDENT-ELECT JOE BIDEN LIKELY TO NAME JANET YELLEN AS U.S. TREASURY SECRETARY

Highlights

• Financial experts are predicting that this move will shift Treasury's focus heavily toward progressive efforts to tackle growing economic inequality and battling against climate change

• Yellen, who made history in 2014 after she became the first wom...

RISING COVID-19 CASES LIKELY TO SLOW DOWN THE U.S. ECONOMY SAYS FEDERAL RESERVE CHAIR POWELL

Highlights

• Speaking in an online discussion with the Bay Area Council, Powell said “We’re seeing states begin to impose some activity restrictions.”

• This statement from Powell comes at a time when the retail sales in the U.S. surged only 0.3 per...

U.S. ECONOMY RECOVERING BUT RISING COVID-19 CASES STILL A THREAT SAYS FED CHAIR POWELL

Highlights

• Powell said “We do see the economy continuing on a solid path of recovery, but the main risk we see to that is clearly the further spread of the disease here in the United States.”

• Powell made these comments at a virtual conference hosted b...

IT IS IMPORTANT FOR U.S. TO GET DIGITAL CURRENCY RIGHT THAN BE FIRST: FED CHAIR POWELL

Highlights

• According to a recently given statement by the U.S. Federal Reserve Chair Jerome Powell on development of a cross-border digital currency, it is more important for the United States to get it right than be first

• Powell said in addition to assessing the...

U.S. ECONOMY NEEDS A STRONG STIMULUS SAYS JEROME POWELL

Highlights

• Powell urged the U.S. Senate to pass a robust stimulus and said that coming up with inadequate support would weaken the recovery from the coronavirus recession while overdoing would only strengthen the rebound

• Speaking at a virtual annual meeting organ...

US ECONOMY IS IMPROVING, BUT WILL TAKE TIME TO RECOVER COMPLETELY: FEDERAL RESERVE'S JEROME POWELL

Highlights

• The US economy is improving but has a long way to go before a full recovery from the COVID-19 pandemic stated Federal Reserve Chair Jerome Powell

• Powell said both employment and overall economic activity, however, remain well below their pre-pandemic l...

FED TO ANNOUNCE THE NEW POLICY INITIATIVES SOON

Highlights

• The culmination of the process could be announced around the Federal Open Market Committee’s meeting
• It includes public meetings and extensive discussions among central bank officials

The Federal Reserve will be soli...

FED RESERVE CHAIRMAN: THE US ECONOMIC RECOVERY FROM COVID – 19 COULD STRETCH THROUGH NEXT YEAR END

Highlights

• The COVID – 19 pandemic has brought the US economy into a recession 
• Fed Chief states that it will rebound but the recovery could stretch through the end of next year. 

Due...

Need to end the trade war between the US and China

Last Friday U.S. President Donald Trump outlined the first phase of a deal to end the trade war. He suspended a threatened tariff hike, but both side officials expressed views that before a settlement could be agreed much more work needed to be done.

Even though household spending remai...