Tag: coronavirus

Fed’s Bostic: High Frequency Data Show Economy Levelling Off

Recent high frequency economic data suggest the recovery is slowing as virus infections rise, Atlanta Fed President Raphael Bostic said Tuesday. Bostic, in webinar remarks to the Tennessee Business Roundtable, said the economy is rebounding from its depths in the first part of the second quarter, but “more recent economic data show the upward trajectory […]

COVID-19 Crisis Speeds Up Use of Digital Payments

The coronavirus pandemic has forced world central banks, already struggling to deal with cryptocurrencies, stablecoins and other non-traditional monies, to up their game on the use of digital currencies and other new technologies. “COVID-19 has forced an unprecedented experiment in digitalisation, across our lives, including work and in commerce…,” said Benoit Coeure, former ECB executive […]

Fed’s Rosengren: Don’t Give Up Progress in Rush to Re-Open

US economic challenges reflect public health concerns, and it’s critical that progress on containing Covid-19 not be undone as businesses and other activities reopen, Boston Fed President Eric Rosengren said Tuesday. “Public health solutions are paramount – without them, it will be virtually impossible to return to full employment,” Rosengren said in remarks for delivery […]

Vaccine Breakthrough and the Stealth Task Force

There were clues Monday that the White House Corona Virus Task Force still exists, a sighting of two of its members and the disclosure by Treasury Secretary Steve Mnuchin that he will attend Task Force meetings this week. Otherwise there was no sign of the NIH’s Tony Fauci nor of the Task Force response coordinator […]

White House Watch: Something Worse Than Either Side Winning?

All eyes are now on the 2020 presidential election – the words every day from every cable network and, from time to time, maybe the question should be raised, why? First, back to headquarters for late breaking virus news, like the CBS’ 60 Minutes interview with Federal Reserve Chair Jay Powell Sunday night. He said […]

WHW: The Truth about Dr Bright and the President

When Jack Nicholson ad-libbed, “You can’t handle the truth” in that 1992 movie it became one of those phrases that assumed a life of its own, used long after in contexts far removed from the original plot. The Nicholson character’s truth proved to be irrelevant, part of a strident defence that did not prevent his […]

White House Watch: Fighters, Haters and Unsung Heroes

There is a basic problem in news coverage of the pandemic, the fact that the virus culture wars are much more interesting than the fight against the virus itself. When President Trump calls an answer from NIH’s Tony Fauci “unacceptable” as he did Wednesday, the president’s fans are cheering how he shows the know-it-alls – […]

WHW: One Word Said It All – ‘Inevitable’

The testimonies of Dr Tony Fauci, Robert Redfield, Stephan Hahn and Brett Giroir Tuesday seemed to many, perhaps even a lot of investors and traders, like something new when in fact there was not only nothing new, but what was there was way too late. The testimonies, if anything, just demonstrated again it’s not the […]

White House Watch: Amid the Testing Haze, a Breakthrough

It has been a little more than two weeks since there has been a US Corona Virus Task Force briefing and Monday’s substitute, a presidential briefing, was intended to illustrate vast progress made in making virus testing widely available. The Rose Garden even had added to the background two large banners, proclaiming ‘America Leads the […]

WHW: Markets Happy, President Optimistic

The week ended with once again everything that involves the coronavirus falling neatly into place: the stock markets end a stellar string of positive trading days, the president said we don’t even need a vaccine and at least 45 states have some re-openings underway despite the obvious risks. And why not? Because Friday’s jobs report […]