TRUMP’S VISA BAN WOULD HAVE COST THE US ECONOMY $100 BILLION

Highlights

• This visa ban was issued on June 22 which barred the entry of H-1B, L-1 and J1 visa holders till the end of 2020, though it was recently suspended by a US district court

• This paper was made by Danny Bahar (The Brookings Institution, Harvard), Prithwira...

U.S. BUDGET DEFICIT SURPASSED $3.1 TRILLION IN 2020: DATA

Highlights

• According to the data released jointly by the White House and the Treasury Department, this year the government has shelled out $6.552 trillion which is up from $4.447 trillion in 2019

• This government released data clearly showcases the impact of COVID...

U.S. CITIZENS HOPEFUL OF ANOTHER $1,200 STIMULUS CHECK

Highlights

• Recently the U.S. President Donald Trump had offered House Speaker Nancy Pelosi a $1.8 trillion coronavirus relief package though nothing is conclusive yet

• The first disbursement of $1,200 checks were approved by the Congress with CARES Act passed in t...

NEW STIMULUS AFTER I WIN SAYS U.S. PRESIDENT DONALD TRUMP HALTING CURRENT TALKS

Highlights

• The President of the United States, Donald Trump on Tuesday said that he has ordered his subordinates to halt negotiations on another round of COVID-19 relief until after the presidential election

• The House Speaker Nancy Pelosi, who recently had a disc...

U.S. ECONOMY GAINED 661,000 JOBS IN SEPTEMBER, UNEMPLOYMENT RATE SLUMPS TO 7.9%

Highlights

• The impact of this sluggish rise in employment and the US President Donald Trump testing COVID positive was immediately visible on the stock markets

• According to the Bureau of Labor Statistics, private-sector hiring was slightly better with addition of...

TOTAL 837,000 US CITIZENS FILED FOR NEW UNEMPLOYMENT CLAIMS IN LAST WEEK

Highlights

• According to the report released on Thursday, 837,000 filed or unemployment claims in the last week as compared to 873,000 in the prior week and this number is less than 850,000, which was predicted by the market analysts

• For the fifth consecutive week...

U.S. ECONOMY: ANOTHER STIMULUS LIKELY BEFORE THE PRESIDENTIAL ELECTION

Highlights

• Michael Cuggino said that if they can strike something that’s reasonable on both sides, then the country does have a good chance to get something done before the election, or right after, which would benefit both parties and the general economy

• T...

JAPAN, AUSTRALIA, AND INDIA TO COOPERATE TO ENHANCE REGIONAL SUPPLY CHAINS

Highlights –

• Japan, Australia, and India to cooperate to enhance regional supply chains.
• The countries plan to draw up various measures for the same by the end of the year.
• The Economy ministers from all the countries discussed to enh...

EXPERTS HINT TOWARDS THE POSSIBILITY OF A DOUBLE-DIP IN THE US ECONOMY

Highlights

• The initial US jobless claims point towards the same
• The U.S. economy needs greater fiscal support

For the US economy, many experts and economists have raised concerns. It is regarding the possibility of a double-dip rece...

JAPAN’S CABINET OFFICE RELEASES THE LATEST MONTHLY REPORT OF THE ECONOMY

Highlights –

• Japan’s Cabinet Office releases the latest monthly report of the economy.
• The government reported the economy showing signs of recovery for the month of August.
• The government has considered 11 major components to ...

THE U.S. JOBLESS CLAIMS TOTALED OVER 1 MILLION

Highlights

• It happened for the 22nd time in 23 weeks 
• In the previous week, it was 1.104 million

The Labor Department said on Thursday stated that the economy struggles to recover from the COVID – 19 pandemic. It is reflec...

NABE SURVEY: THE ECONOMY COULD OBSERVE A DOUBLE-DIP RECESSION

Highlights

• Fed’s stimulus efforts were acknowledged 
• Congress’s response to the recession was debated  

The National Association for Business Economics surveyed economists. According to a m...

THE US JOBLESS CLAIMS CROSS 1 MILLION

Highlights

• For the week ending on August 15, it came in at 1.106 million
• A total of 923,000 was expected by the economists polled by Dow Jones

The concerns have been raised about the state of the economy. For the week that ended on A...

GLENN HUTCHINS THE U.S. FELL SHORT ON THE COORDINATED NATIONAL RESPONSE TO THE COVID – 19 PANDEMIC

Highlights

• The corona virus response, particularly in June and July, has been poor 
• It is largely because of the various factors like the early return to social activity, etc.   

On Wednesday, Glenn Hutchins said that ...

FED TO ANNOUNCE THE NEW POLICY INITIATIVES SOON

Highlights

• The culmination of the process could be announced around the Federal Open Market Committee’s meeting
• It includes public meetings and extensive discussions among central bank officials

The Federal Reserve will be soli...

JAPAN’S AMBITIOUS PLAN TO GO DIGITAL UNDER CRISIS; COVID-19 EXPOSED THE SHORTCOMINGS

Highlights –

• Japan’s ambitious plan to go digital under crisis; COVID-19 exposed the shortcomings.
• Less than 12% of administrative work is transacted online in Japan.
• Just 5.4% of citizens utilize digital applications at public...

GOV. GREG ABBOTT: TEXAS HAS NOT YET CONQUERED THE CORONAVIRUS

Highlights

• It was one of the first states to reopen its economy toward the beginning of May
• It rolled back some of it later after coronavirus cases surged 

On Friday, Gov. Greg Abbott said that Texas has not yet conquered the c...

SOUTH KOREA FALLEN INTO RECESSION AS EXPORTS SLUMP

Highlights:

• South Korea’s Gross Domestic Product (GDP) has plummeted worse-than-expected i.e. 2.9% in year-on-year terms.
• Exports, which account for 40% of the economy has experienced the largest fall since 1963.
• The government of Sou...

JAPAN IS RETHINKING ABOUT RELAXING ITS CURRENT RESTRICTIONS

Highlights –

• Japan is rethinking about relaxing its current restrictions.
• Changes in guidelines with regards to spectators allowed in sporting or other major events.
• Tokyo and other prefectures have reported a surge in COVID-19 cases....

GERMANY CONSIDERS SUBSIDIES FOR STEEL AND CHEMICAL SECTORS

HIGHLIGHTS

• Germany wants approval from EU to support the chemical industry and steel industry in its country.
• German government is considering providing subsidies to these industries.
• Economy minister presented a plan to support the growth ...