Covid-19 and the Day After

Coronavirus Spending Pushes U.S. Budget Deficit to $3 Trillion for 12 Months Through June Kate Davidson, Wall Street JournalRead the full article here The US budget deficit has soared in the months since the pandemic began, and is projected to reach $3.7 trillion...

Covid-19 and the Day After

World Economy That Took Elevator Down Faces Steep Stairs Back Up Enda Curran, BloombergRead the full article here In the wake of what the IMF has called “The Great Lockdown,” the world has suffered from the worst economic crisis since the Great Depression. While...

Covid-19 and the Day After

Pandemic Causes ‘unprecedented’ fall in global trade Valentina Romei, Financial TimesRead the full article here April data reveal that world trade has experienced an “unprecedented” decline as a result of the Covid-19 pandemic. The volume of global trade in...

Covid-19 and the Day After

A $10 Trillion Fed Balance Sheet Is Coming Bill Dudley, BloombergRead the full article here The Fed’s balance sheet has grown by about $3 trillion since mid-March, with more easing on the way. As the Fed buys corporate bonds, municipal securities, Treasuries, and...

Covid-19 and the Day After

OECD warns of deepest economic scars in peacetime for a century Chris Giles, Financial TimesRead the full article here While the equity markets seem to have taken for granted the likelihood of a “V-shaped recovery,” a gloomy forecast from the OECD indicates many...

Covid-19 and the Day After

Shipping Industry Warns of Trade Logjam as Crews Remain Stranded Peggy Hollinger, Robert Wright, and Michael Pooler; Financial TimesRead the full article here Nearly 400,000 crew are stranded at sea or at home by Covid-19 travel restrictions. The international...