Morning, thevember imf is direct. There is real risk to any form of international recovery. They look at the pandemic data, they look at the gdp data, and they look at the lack of fiscal stimulus nation to nation. This time is different. These headlines are original before a g20 meeting, but we got to get right to this. This is a real wakeup call of the immediacy into december. Fromhan its an echo chairman powell and president lagarde over the last few days as well. I think market dispenser quick to untangle be shortterm from the longterm, to bear their hope in the sands of in the back end of 2021. I think what policymakers are suggesting is that the shortterm matters. It can shape what the longterm looks like area when you look at the balance of risks, they are tilted aggressively to the downside. Abramowicz, this headline, elevated asset values point to Financial Stability risk, and i am surprised that is a judgment by imf on where fixed income and equities are. Lisa this is somethin
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
The u. N. His bio is Available Online so let me be very brief in introducing him. Mark has more than 30 years of experience in both humanitarian and development context. Most of it spent with the u. K. s department for international development, which he eventually led as permanent secretary. He had led their humanitarian responses to such context as iraq, syria, nepal, several cases in africa, and haiti. He was also their directorgeneral for policy and corporate performance and finance. An extraordinary wealth of experience both in the context working where operations occur and on the infrastructure that helps to manage them. So were delighted to have sir mark with us today. Mark, there are innumerable humanitarian crises under way right now and at large scale. I know you Just Launched the u. N. s consolidated humanitarian appeal for the funding to support that effort. But today we want to focus on covid. And what the pandemic has meant for the crises that you helped to manage and for
Come whichrevious also been revised higher. There was some expedition that as prices come up because of the fact you can get cheap lending at the moment or cheap borrowing , you would expect that at some have, that would start to an impact on a month by month basis. Nevertheless, the market was looking for this month on month number two actually slow, and that hasnt happened, which is really interesting and the light of what we are starting to see in the employment market. We saw initial jobless claims out a little bit earlier on. Youre starting to see the negative data could begin from the employment side of the economy, starting to come in a little softer. Bloombergs mike mckee joining us now with the details of that. Michael at one point on the housing numbers, existing home sales or closings, so these contracts were signed a couple of months ago when things were a little better in the economy, and we got low mortgage rates, so the one thing the fed has been able to do is stimulate