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Fed Renews Pledge, Tourism Threat, Euro Area GDP

  • Leader
    August 12, 2020

    Welcome 
    to Thursday, Europe. Heres the latest news and analysis from Bloomberg 
    Economics to help you start the day:To get more news about WikiFX, you can visit wikifx news official website.
      The 
    Federal Reserve left interest rates near zero and vowed to use all its 
    tools to support the recovery from an economic downturn that Chair 
    Jerome Powell called the most severe “in our lifetime”
      Virus upsurge is threatening South Europes nascent tourism revival
      Hang on to your seat, euro area GDP will get ugly, writes Bloomberg Economics Maeva Cousin
    Conditions 
    for successfully implementing yield curve control are less favorable in 
    the U.S., euro area and U.K. than they are in Japan, writes Bloomberg 
    Economics Björn van Roye
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      Another 
    round of talks between the Trump administration and congressional 
    Democrats on Wednesday brought them no closer to a compromise on a 
    virus-relief plan
      Australia 
    is lowballing the price estimate of its largest export -- a key 
    ingredient in China‘s stimulus -- setting up a buffer for the economy 
    and the government’s books as the Covid-19 crisis clouds the broader 
    outlook
      Fiscal, 
    education and health-care policies can do more than monetary policy to 
    combat the higher unemployment rates experienced by Black Americans, Fed 
    Chair Jerome Powell said. Meantime, a former senior Fed economist 
    levied a broad critique of her profession, saying racism, sexism and 
    elitism have led to bad policy advice
      Food 
    insecurity for U.S. households reached its highest reported level since 
    data tracking began in May, with almost 30 million Americans reporting 
    that theyd not had enough to eat