Does he have the ability to do this, do you agree with the decision . Sen. Schumer i agree with the decision and i know that he will check things out legally. Thank you, everybody. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. Visit ncicap. Org] a we take you live to discussion on fiscal policy in the Incoming Biden Administration and congress, hosted by the brookings institution. Size i think is ambiguous and policy occur through a political process. I would rather see something that is a little bit smaller but that could pass this week or next week, rather than wait for something that is a little bit until, but will not pass february. If you look at the output gap, i think a trillion dollars is a reasonable figure for the next round of stimulus. I think democrats should be willing to take a couple hundred billion dollars less than that. Republicans should be willing to take a couple hundred billion dollars more
With the cares act in march and prevented the covid pandemic from doing even more harm to the economy and welfare of americans than it did. The cares act is essentially been spent, many people are about to lose benefits. Unless Congress Acts. And unless Congress Acts fiscal policy soon will be a drag on growth. They are still more than 11 Million People still unemployed by the official count. Most economists and certainly those gathered here today agree more fiscal support is necessary. Following that discussion, we turn to an issue predating the pandemic him one that persists. How to think about the federal debt and very low Interest Rates. Its growing and unsustainable rate. There is sentiment among comp economists for doing anything about that right now. When is a debate about how and how best to address that Going Forward. Had to balance the risk and cost. And too little Public Investment. We look at that issue with the paper posted on our website. By two veterans of economic polic
Boost the recovery. Larry summers says the coordinated Global Response is needed. And airbnb books an ipo in new york, aiming to list shares on the nasdaq. Booking through september a total of 18 billion. Although it admits covid19 continues to affect the business. Lets take a look at the asx. More than normal when it comes to the australian soft market after it had the data disruption out. Yesterday was the longest outage in about a decade. Of course, it meant australian traders missed out on the bulk of the days rally. Only trading for a halfhour. We are seeing a pretty modest start, less than 2 10 of 1 higher at the open. Perhaps some caution there could be more technical difficulties. We are seeing gains when it comes to trading in new zealand. Nikkei future setting off on a bad foot as we are seeing some profittaking. It does look like the vaccine driven optimism and the rather we saw overnight will continue, with s p active futures in the positive. Shery we have breaking news at
Is for. Beethoven is for cars. Is for. Beethoven 2020 the 250th anniversary here on new. The uncertainty continues but investors seem to have place to their baggage stops again in shop me from wall street to hong kong as joe biden looks on course to win the us president ial election also coming up the Worlds Largest i. P. O. Was cute today but to beijing pulled to the pluck at very short notice whats behind this move we go to our correspondent in tie pete for. Hello and welcome to your business on one of the johns and good to have you with us so asian markets advanced as democratic challenger joe biden led to donald trump and republicans looked said to hold on to their majority in the Senate Analysts believe a divided u. S. Government would make tax increases and tighter regulations on business unlikely but im saying in Hong Kong Rose more than 2. 7 percent while the nikkei index in tokyo gained more than one percent investors hope they will beat a new rescue package in the u. S. Soon
A look at the markets which reflect the dynamics of the u. S. Election asian share scaled a mere 3 year peak as democratic challenger joe biden picked up wins in some closely 4 states and republicans looked set to hold onto their majority in the senate because analysts believe a divided u. S. Government would make tax increases and tighter regulations on business unlikely but lets keep in mind this still counting votes in the United States. Because the uncertainty continues its time to cross over now to our Financial Market correspondent rhonda bruson who keeps an eye on the Trading Floor in frankfurt for us chrono hows the day unfolding in europe. Well i can show you the uncertainty it looks like this its a very jittery sideways german share index dax today of course everyone here continues to discuss what to expect from the United States very slowly also a few european factors are shifting back into focus for example german factory orders which have increased since september which gi