Equality and inflation revival. Were so happy for you to be joining us today for this discussion about longer Term Economic trends and what those trends hold for the future. After four decades tis the World Economy about to shift regime . Economist Charles Goodhart and Manoj Pradhan argue, yes, globals forward marks the rise of china and the breakup of the soviet union characterizing regimes that began in the 1980s of the number of workers rose along with the ratio of workers to dependents. This led to a summer of global labor supply that depressed wages, led to higher profit shares, increased inequality within countries, decreased inequality between countries, led to a global savings glut and put downward pressure on real Interest Rates. Dr. Goodhart and dr. Pradhan argue this is about to change and a new era of high inflation and increasing Interest Rates will begin. Im so happy to welcome them here. Let me gave brief biography of each of our speakers, Charles Goodhart is professor e
More than 25 million confirmed cases of covid19 and more than 430,000 deaths across this country. Accounting for 25 of of the confirmed cases and 20 of deaths worldwide. While cases hospitalizations and deaths at have slightly decrd in the last few weeks, the numbers continued to be staggering. Now there is great concern of varied and more transmissible strains of the virus may become dominant over the coming weeks leading to a further worsening of the pandemic. Todays report comes as president Bidens Administration launches an aggressive effort to combat the pandemic and Congress Considers additional aid to bolster the Public Health response and jumpstart the economy. The future of Health Care Initiative released its first report of bipartisan prescription for Americas Health care in february 2020 Offering Practical Solutions designed to make healthcare coverage more affordable without adding a growing Systemwide Health expenditures. Todays report was led by a Bipartisan Group of heal
Also up on the s p. Thend pingpong and pound pingponging around today. I think it was a reuters report talking about the fact that we hadnt made any progress in the brexit talks. Then we got the legal action and the fact that there was a landing zone, particularly on state aid, and that fishing was the only area that we didnt have a deal done. Subsequent to that, we start to see the pound rolling over again. We did see commodities generally do well last month. Crude down, burned trading just north of 40 brent trading just north of 40. Alix nancy pelosi is having a press conference, saying she is talking about how to go forward on really else. She is still ash really ills on relief bills. She is still hopeful, going against the report that she was skeptical. Euro still trading up 0. 3 . U. S. Is politics in the the European Union is starting Legal Proceedings against the u. K. The move was announced by European Commission president ursula von der Leyen Urszula by European Commission pre
That is what we saw with adp, not as bad as we initially thought. The banks talk about of canadas decision coming out as well. You could see that in the top righthand corner of your screen. Unsurprisingly, the bank of canada keeping rates on hold and the economy is starting to reopen. The bank of canada looking for more information, its a status quo decision with Interest Rates left at 25 basis points, at the bottom end of the range. They are unlikely to go any lower when we have a new governor coming in, macklin is coming in and is likely to resist negative rates. Scaling back some of the Market Operations at the bank of canada with covid19 impacts, it appears to have peaked. Interesting, could you imagine . The dollar cap is down two point 1 2. 1 . A twomonth high as what we are dealing with and also oil prices are vacillating everywhere, but the spread continues to widen and we are now at the widest is this manufactured by the fed or is it a comment on longerterm growth . We are goi
Next 90day window, tear levels would escalate. Go back as they should have been. Apparently moved the market. To be honest im not entirely sure why that is newsworthy . That has been the stance of this administration for days into weeks, into months now, if there wasnt a trade deal, then tariffs would continue. Administration illuminating that. That played on the market. The other set of numbers, a jobs numbers. It was a miss relates to the top line number. 155,000 jobs created in november. However the white house is continuing to build up the argument today this is an economy that is continuing on the right path. One chart that the Economic Team is pointing to is this one right here in which they actually look back at october, in which they say that 73 1 2 of the people hired in october were folks who were out of the labor force that ended up making their way back into the labor force. They say that indeed is a good sign. As far as november goes, the administration is trying to paint