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US PRODUCTIVITY SLUMPS SHARPLY AT 4.8% RATE IN OCTOBER-DECEMBER QUARTER

Highlights

• The report released on Thursday stated that after rising strongly in the first two quarters, the productivity fell at a rate of 4.8 percent in the last quarter

• The labor costs has gone up by 6.8 percent rate in the quarter ended in December after it we...

U.S. TREASURY SECRETARY NOMINEE JANET YELLEN TO PRESENT $1.9 TRILLION STIMULUS PACKAGE

Highlights

• The Senate Finance Committee's hearing is expected to feature several topics like foreign-exchange policy to taxes

• The most important topic in this hearing will be the President-elect Joe Biden’s $1.9 trillion coronavirus relief plan

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$600 NOT ENOUGH SAYS BIDEN, CALLS FOR $2000 STIMULUS CHECKS

Highlights

• Earlier this week, the President-elect had said that $2,000 checks would go out as soon as his party takes control of the both houses

• With control of the House of Representatives and the Senate, Biden is expected to push for a new stimulus package late...

AMERICANS TO GET $600 IN THEIR BANK ACCOUNTS ANYTIME SOON: U.S. GOVERNMENT

Highlights

• The Treasury Department and the Internal Revenue Service said that U.S. citizens can expect to start seeing $600 in their bank accounts

• The Treasury and the IRS are working with unprecedented speed to issue the second round of payments said Treasury Se...

U.S.-INDIA LIMITED TRADE DEAL MAY NEED PRESIDENT-ELECT BIDEN'S APPROVAL

Highlights

• The source stated as Joe Biden takes over the office, he is likely to review the deal and this might take at least few months or more than that

• It is also being said the only positive thing is that the scope of the deal can be expanded in this process ...

U.S. FEDERAL RESERVE KEEP INTEREST RATES NEAR ZERO

Highlights

• “Economic activity and employment have continued to recover but remain well below their levels at the beginning of the year” said the Federal Open Market Committee (FOMC)

• No changes were made to the monthly purchases by the Fed officials an...

TRUMP’S VISA BAN WOULD HAVE COST THE US ECONOMY $100 BILLION

Highlights

• This visa ban was issued on June 22 which barred the entry of H-1B, L-1 and J1 visa holders till the end of 2020, though it was recently suspended by a US district court

• This paper was made by Danny Bahar (The Brookings Institution, Harvard), Prithwira...

U.S. BUDGET DEFICIT SURPASSED $3.1 TRILLION IN 2020: DATA

Highlights

• According to the data released jointly by the White House and the Treasury Department, this year the government has shelled out $6.552 trillion which is up from $4.447 trillion in 2019

• This government released data clearly showcases the impact of COVID...

U.S. CITIZENS HOPEFUL OF ANOTHER $1,200 STIMULUS CHECK

Highlights

• Recently the U.S. President Donald Trump had offered House Speaker Nancy Pelosi a $1.8 trillion coronavirus relief package though nothing is conclusive yet

• The first disbursement of $1,200 checks were approved by the Congress with CARES Act passed in t...

NEW STIMULUS AFTER I WIN SAYS U.S. PRESIDENT DONALD TRUMP HALTING CURRENT TALKS

Highlights

• The President of the United States, Donald Trump on Tuesday said that he has ordered his subordinates to halt negotiations on another round of COVID-19 relief until after the presidential election

• The House Speaker Nancy Pelosi, who recently had a disc...

U.S. ECONOMY GAINED 661,000 JOBS IN SEPTEMBER, UNEMPLOYMENT RATE SLUMPS TO 7.9%

Highlights

• The impact of this sluggish rise in employment and the US President Donald Trump testing COVID positive was immediately visible on the stock markets

• According to the Bureau of Labor Statistics, private-sector hiring was slightly better with addition of...

TOTAL 837,000 US CITIZENS FILED FOR NEW UNEMPLOYMENT CLAIMS IN LAST WEEK

Highlights

• According to the report released on Thursday, 837,000 filed or unemployment claims in the last week as compared to 873,000 in the prior week and this number is less than 850,000, which was predicted by the market analysts

• For the fifth consecutive week...

U.S. ECONOMY: ANOTHER STIMULUS LIKELY BEFORE THE PRESIDENTIAL ELECTION

Highlights

• Michael Cuggino said that if they can strike something that’s reasonable on both sides, then the country does have a good chance to get something done before the election, or right after, which would benefit both parties and the general economy

• T...

GLENN HUTCHINS THE U.S. FELL SHORT ON THE COORDINATED NATIONAL RESPONSE TO THE COVID – 19 PANDEMIC

Highlights

The corona virus response, particularly in June and July, has been poor
It is largely because of the various factors like the early return to social activity, etc.

On Wednesday, Glenn Hutchins said that ...

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...