Pay Your Power Bill, Myanmar Soldiers Say, or Pay With Your Life

Facing a huge loss of revenue amid economic turmoil, the military has sent soldiers to act as debt collectors.

#coups-detat-and-attempted-coups-detat, #demonstrations-protests-and-riots, #electric-light-and-power, #human-rights-and-human-rights-violations, #myanmar, #recession-and-depression

Jobless for a Year? That Might Be Less of a Problem Now.

People who were out of work for a while have typically found it much harder to get a job. The pandemic may have changed how employers view people who have been unemployed for months or years.

#careers-and-professions, #coronavirus-2019-ncov, #employment-agencies, #hiring-and-promotion, #human-resources, #labor-and-jobs, #layoffs-and-job-reductions, #recession-and-depression, #shortages, #unemployment, #united-states-economy

How Inflation Affects Turkey’s Struggling Economy

Even before the pandemic, Turkey was trying to ward off financial meltdown. The crisis has accelerated as President Recep Tayyip Erdogan has doubled down on his unorthodox policies.

#currency, #economic-conditions-and-trends, #erdogan-recep-tayyip, #foreign-investments, #inflation-economics, #interest-rates, #international-trade-and-world-market, #politics-and-government, #recession-and-depression, #turkey, #unemployment

Charles R. Morris, Iconoclastic Author on Economics, Dies at 82

Resisting ideological labels, experienced in government and banking, he critiqued policymakers’ “good intentions” and the costs of health care and forecast the 2008 financial crisis.

#deaths-obituaries, #lindsay-john-v, #morris-charles-r, #new-york-city, #politics-and-government, #recession-and-depression, #the-cost-of-good-intentions-book, #the-trillion-dollar-meltdown-book, #writing-and-writers

How Softies Seized the Fed

For now, doves rule the roost.

#brainard-lael, #economics-theory-and-philosophy, #federal-reserve-system, #friedman-milton, #inflation-economics, #internal-sub-only-nl, #powell-jerome-h, #recession-and-depression, #unemployment

Overheating the Economy Now Could Mean Trouble Later

Now that Jerome Powell has been renominated to head the Federal Reserve, he needs to turn the temperature down.

#biden-joseph-r-jr, #federal-reserve-system, #inflation-economics, #interest-rates, #labor-and-jobs, #powell-jerome-h, #recession-and-depression, #united-states-economy

How to Think About the Covid Recession

When will the U.S. economy improve?

#coronavirus-2019-ncov, #coronavirus-reopenings, #recession-and-depression, #united-states, #united-states-economy

The New Jobs Numbers Are Pretty Good, Actually

They fell far short of analyst expectations, but they reflect a steady expansion that is more rapid than other recent recoveries.

#labor-and-jobs, #recession-and-depression, #shortages, #unemployment, #unemployment-insurance, #united-states-economy

The New Jobs Report Numbers Are Pretty Good, Actually

They fell far short of analyst expectations, but they reflect a steady expansion that is more rapid than other recent recoveries.

#labor-and-jobs, #recession-and-depression, #shortages, #unemployment, #unemployment-insurance, #united-states-economy

Does the U.S. Economy Still Need Booster Shots?

This week, the Federal Reserve may hint at an answer.

#federal-reserve-system, #interest-rates, #internal-sub-only, #powell-jerome-h, #quantitative-easing, #recession-and-depression, #stimulus-economic, #stocks-and-bonds

Economics Needs to Reckon With What It Doesn’t Know

How the past decade upended economic policy.

#audio-neutral-informative, #economics-theory-and-philosophy, #keynes-john-maynard, #powell-jerome-h, #recession-and-depression

Poverty in the U.S. Declined Thanks to Government Aid, Census Report Shows

Taking into account government benefits, a smaller share of the population was living in poverty in 2020 even as the pandemic eliminated millions of jobs.

#biden-joseph-r-jr, #census-bureau, #coronavirus-2019-ncov, #poverty, #recession-and-depression, #unemployment, #unemployment-insurance, #united-states, #united-states-economy, #united-states-politics-and-government

Fed Unity Cracks as Inflation Rises and Officials Debate Future

Federal Reserve officials are debating what to do as price risks loom, even as its leaders and the White House say today’s surge will most likely cool.

#american-rescue-plan-2021, #bowman-michelle, #brainard-lael, #bullard-james-b, #credit-and-debt, #daly-mary-c, #federal-reserve-system, #inflation-economics, #interest-rates, #kaplan-robert-s, #labor-and-jobs, #powell-jerome-h, #prices-fares-fees-and-rates, #quantitative-easing, #recession-and-depression, #stimulus-economic, #united-states-economy, #williams-john-c

Markets Work, but Untangling Global Supply Chains Takes Time

Decisions made early in the pandemic are having lasting effects on the ability of industries to fulfill surging demand.

#automobiles, #coronavirus-2019-ncov, #inflation-economics, #prices-fares-fees-and-rates, #recession-and-depression, #united-states-economy, #wood-and-wood-products

How to Have a Roaring 2020s (Without Wild Inflation)

Manage the boom, don’t fight it.

#inflation-economics, #labor-and-jobs, #recession-and-depression, #united-states-economy, #wages-and-salaries

The Recession Isn’t Over Till They Say It’s Over. (But Who Are They?)

The contraction in the U.S. seemed to end quickly in April 2020, but the committee charged with determining an endpoint has been quiet.

#coronavirus-2019-ncov, #national-bureau-of-economic-research, #recession-and-depression, #united-states-economy

Europe’s Summer of Recovery Is More Fragile Than It Looks

An anticipated surge of tourism in Portugal is suddenly not at all certain — a symbol of the global economy’s continued struggle with pandemic uncertainty.

#coronavirus-2019-ncov, #coronavirus-reopenings, #economic-conditions-and-trends, #european-union, #eurozone, #international-trade-and-world-market, #labor-and-jobs, #politics-and-government, #recession-and-depression, #summer-season, #travel-and-vacations, #wages-and-salaries

Republicans, Don’t Ignore the Evidence on ‘Labor Shortages’

The latest jobs report shows just how misguided their plans to cut unemployment benefits are.

#coronavirus-2019-ncov, #labor-and-jobs, #recession-and-depression, #shortages, #unemployment-insurance, #wages-and-salaries

To Motivate Workers, Republican Governors Experiment With Pain

Why does the federal government tolerate stingy state unemployment programs?

#labor-and-jobs, #layoffs-and-job-reductions, #recession-and-depression, #unemployment-insurance, #united-states-economy, #wages-and-salaries

America Is on a Road to a Better Economy. But Better for Whom?

The federal government is undertaking the largest stimulus program in American history. The payoff could be more widely shared than usual.

#coronavirus-2019-ncov, #income-inequality, #labor-and-jobs, #recession-and-depression, #stimulus-economic, #united-states-economy

Fed Bets Inflation Expectations Will Stay Controlled

Federal Reserve officials believe low and stable price expectations give them room to heal the job market. But what if outlooks change?

#federal-reserve-system, #inflation-economics, #interest-rates, #prices-fares-fees-and-rates, #quantitative-easing, #recession-and-depression, #stimulus-economic, #united-states-economy, #united-states-politics-and-government

Amid Economic Turmoil, Biden Stays Focused on Longer Term

The president’s advisers are pushing their most detailed argument yet for the long-term benefits of a $4 trillion agenda to remake the American economy.

#american-jobs-plan-2021, #american-rescue-plan-2021, #biden-joseph-r-jr, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #infrastructure-public-works, #labor-and-jobs, #public-private-sector-cooperation, #recession-and-depression, #republican-party, #rouse-cecilia-e, #stimulus-economic, #taxation, #united-states-economy, #united-states-politics-and-government, #white-house-council-of-economic-advisers

The Jobs Report: The Boom That Wasn’t

April’s anemic job creation was so out of line with what other indicators have suggested that it will take some time to unravel the mystery.

#coronavirus-2019-ncov, #labor-and-jobs, #recession-and-depression, #unemployment, #united-states-economy

Europe’s Recession Contrasts Economic Fortunes of U.S. Expansion

The diverging recoveries underway in the United States and Europe underscore the value of effective vaccination and public spending in the pandemic.

#coronavirus-2019-ncov, #economic-conditions-and-trends, #european-central-bank, #european-union, #eurozone, #recession-and-depression, #stimulus-economic, #united-states-economy

‘A Perfect Positive Storm’: Bonkers Dollars for Big Tech

The dictionary doesn’t have enough superlatives to describe what’s happening to the five biggest technology companies, raising uncomfortable questions for their C.E.O.s.

#amazon-com-inc, #apple-inc, #company-reports, #computers-and-the-internet, #coronavirus-2019-ncov, #data-mining-and-database-marketing, #e-commerce, #facebook-inc, #google-inc, #microsoft-corp, #recession-and-depression, #regulation-and-deregulation-of-industry, #social-media, #stocks-and-bonds, #united-states-economy

Biden, Calling for Big Government, Bets on a Nation Tested by Crisis

The president’s speech laying out trillions of dollars in new economic proposals plays to voters’ warm feelings toward federal aid in the coronavirus pandemic.

#american-families-plan-2021, #american-rescue-plan-2021, #biden-joseph-r-jr, #coronavirus-2019-ncov, #corporate-taxes, #federal-taxes-us, #income-inequality, #infrastructure-public-works, #obama-barack, #polls-and-public-opinion, #recession-and-depression, #stimulus-economic, #tax-credits-deductions-and-exemptions, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

As Economy Rebounds, Manufacturers Face New Hurdles

U.S. factories are humming again. But the recovery’s speed has left many employers scrambling for workers or for parts.

#american-jobs-plan-2021, #factories-and-manufacturing, #gross-domestic-product, #hiring-and-promotion, #infrastructure-public-works, #labor-and-jobs, #recession-and-depression, #shortages, #united-states-economy

Automatic Aid for the People? How Jobless Benefits Can Fit the Economy.

The pandemic showed the flaws in the American approach to help the unemployed. Alternatives exist.

#coronavirus-aid-relief-and-economic-security-act-2020, #federal-budget-us, #labor-and-jobs, #recession-and-depression, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

Biden’s Spending Plans Could Start to Tackle Inequality

The Biden administration is relying on Congress instead of just the Fed to fix the economy. That mix could lead to a less wealth-unequal future.

#american-rescue-plan-2021, #biden-joseph-r-jr, #economics-theory-and-philosophy, #federal-aid-us, #federal-reserve-system, #income-inequality, #recession-and-depression, #stimulus-economic, #united-states-politics-and-government

‘We Were Left With Nothing.’ Argentina’s Misery Deepens in the Pandemic.

The economy contracted by nearly 10 percent last year, and the country faces a reckoning with the I.M.F. over $45 billion in debts.

#argentina, #blackrock-inc, #coronavirus-2019-ncov, #credit-and-debt, #economic-conditions-and-trends, #fernandez-alberto-1959, #georgieva-kristalina-ivanova, #inflation-economics, #international-monetary-fund, #international-trade-and-world-market, #macri-mauricio, #politics-and-government, #poverty, #recession-and-depression, #united-states

Krugman Wonks Out: The Case for Supercore Inflation

It’s going to be a year of bottlenecks and blips.

#american-rescue-plan-2021, #federal-reserve-system, #prices-fares-fees-and-rates, #recession-and-depression

The Biden Administration Is Quietly Obsessing Over Inflation

A monthslong effort to monitor and model economic trends inside the White House and the Treasury Department found little risk of prices spiraling upward faster than the Fed can manage.

#american-rescue-plan-2021, #biden-joseph-r-jr, #federal-reserve-system, #inflation-economics, #recession-and-depression, #stimulus-economic, #treasury-department, #united-states-economy, #united-states-politics-and-government

After Pandemic, Shrinking Need for Office Space Could Crush Landlords

Some big employers are giving up square footage as they juggle remote work. That could devastate building owners and cities.

#boston-properties-inc, #buildings-structures, #coronavirus-2019-ncov, #corporations, #dimon-james, #jpmorgan-chasecompany, #landlords, #manhattan-nyc, #property-taxes, #quarantine-life-and-culture, #real-estate-commercial, #recession-and-depression, #renting-and-leasing-real-estate, #sl-green-realty-corporation, #stocks-and-bonds, #telecommuting, #united-states, #urban-areas, #workplace-environment

How 10 Prominent Economists Think About Overheating

Some notable participants in the debate over the Biden stimulus tell us, in their words, what a too-hot economy would look like.

#economics-theory-and-philosophy, #inflation-economics, #interest-rates, #recession-and-depression, #united-states-economy

If the Economy Overheats, How Will We Know?

We asked some prominent participants in the Great Overheating Debate of 2021 to explain what inflationary trends they’re afraid of (or not, as the case may be).

#american-rescue-plan-2021, #economics-theory-and-philosophy, #inflation-economics, #interest-rates, #recession-and-depression, #united-states-economy

How the U.S. Got It (Mostly) Right in the Economy’s Rescue

Though the recession has been painful, policymakers cushioned the pandemic’s blow and opened the way to recovery.

#american-rescue-plan-2021, #black-people, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #federal-aid-us, #federal-reserve-system, #interest-rates, #labor-and-jobs, #layoffs-and-job-reductions, #recession-and-depression, #republican-party, #shutdowns-institutional, #stimulus-economic, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

17 Reasons to Let the Economic Optimism Begin

A reporter who has tracked decades of gloomy trends sees things lining up for roaring growth.

#federal-budget-us, #innovation, #labor-and-jobs, #productivity, #recession-and-depression, #stimulus-economic, #united-states-economy, #united-states-politics-and-government

Biden, Champion of Middle Class, Comes to Aid the Poor

President Biden’s new role as a crusader for Americans in poverty is an evolution for a politician who has focused on the working class and his Senate work on the judiciary and foreign relations.

#american-rescue-plan-2021, #biden-joseph-r-jr, #coronavirus-2019-ncov, #democratic-party, #house-of-representatives, #income-inequality, #poverty, #recession-and-depression, #senate, #stimulus-economic, #tax-credits-deductions-and-exemptions, #united-states-economy, #united-states-politics-and-government

Biden Plans Messaging Blitz to Sell Economic Aid Plan

Drawing on a lesson from early in the Obama administration, the White House wants to tell voters how the legislation will help them and keep Republicans from defining it on their terms.

#american-recovery-and-reinvestment-act-2009, #american-rescue-plan-2021, #biden-joseph-r-jr, #coronavirus-2019-ncov, #democratic-party, #obama-barack, #polls-and-public-opinion, #recession-and-depression, #republican-party, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

February 2021 Jobs Report: U.S. Economy Added 379,000 Jobs

U.S. employers added 379,000 to their payrolls in February, increasing hopes that vaccinations and reopenings are giving the economic recovery a firmer grip.

#coronavirus-2019-ncov, #labor-and-jobs, #labor-department-us, #recession-and-depression, #shutdowns-institutional, #unemployment, #united-states-economy

Weekly Unemployment Claims Show Recovery Remains Rocky

Even with restrictions on business activity easing in many places, layoffs persist. The Texas storms were one of the latest setbacks.

#coronavirus-2019-ncov, #labor-and-jobs, #labor-department-us, #recession-and-depression, #unemployment, #unemployment-insurance, #united-states-economy

We Expect 300,000 Fewer Births Than Usual This Year

Signs are pointing to a sizable pandemic baby bust in the United States, with implications that will be with us for years to come.

#babies-and-infants, #birth-rates, #coronavirus-2019-ncov, #influenza-epidemic-1918-19, #quarantine-life-and-culture, #recession-and-depression, #united-states-economy

Empty Office Buildings Squeeze City Budgets as Property Values Fall

A looming hit to tax revenues puts pressure on Congress to deliver relief.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #federal-state-relations-us, #house-of-representatives, #law-and-legislation, #local-government, #property-taxes, #real-estate-commercial, #recession-and-depression, #renting-and-leasing-real-estate, #republican-party, #senate, #shopping-centers-and-malls, #stimulus-economic, #taxation, #united-states-economy, #united-states-politics-and-government

Stimulus Checks Helped Personal Income Surge in January

Personal income and spending both surged in January as a new round of government checks hit Americans’ bank accounts.

#commerce-department, #consumer-behavior, #coronavirus-2019-ncov, #federal-aid-us, #income, #inflation-economics, #recession-and-depression, #stimulus-economic, #united-states-economy

Why Top Economists Are Citing a Higher-Than-Reported Jobless Rate

The official rate stood at 6.3 percent in January, but using an expanded metric, Fed and Treasury officials say it’s closer to 10 percent.

#coronavirus-2019-ncov, #labor-and-jobs, #labor-department-us, #layoffs-and-job-reductions, #powell-jerome-h, #recession-and-depression, #unemployment, #united-states-economy, #yellen-janet-l

On the Post-Pandemic Horizon, Could That Be … a Boom?

Signs of economic life are picking up, and mounds of cash are waiting to be spent as the virus loosens its grip.

#coronavirus-2019-ncov, #gross-domestic-product, #labor-and-jobs, #personal-finances, #productivity, #recession-and-depression, #unemployment, #united-states-economy

When the Bill Comes Due in Europe, ‘How Are We Going to Pay for All This?’

Pandemic aid has cushioned workers and businesses from a severe recession. But as governments face trillions in debt, there’s no rush to rein it in.

#coronavirus-2019-ncov, #credit-and-debt, #economic-conditions-and-trends, #europe, #france, #interest-rates, #le-maire-bruno, #recession-and-depression, #stimulus-economic

Biden and the Fed Leave 1970s Inflation Fears Behind

Administration and Fed officials argue that workers not getting enough stimulus help is a larger concern than potential spikes in consumer prices.

#american-enterprise-institute-for-public-policy-research, #american-recovery-and-reinvestment-act-2009, #biden-joseph-r-jr, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #inflation-economics, #interest-rates, #recession-and-depression, #stimulus-economic, #strain-michael-r, #summers-lawrence-h, #unemployment, #united-states, #united-states-economy, #yellen-janet-l

The Clash of Liberal Wonks That Could Shape the Economy, Explained

They all agree pandemic aid is warranted, but the question is how big and how quickly.

#biden-joseph-r-jr, #economic-conditions-and-trends, #inflation-economics, #recession-and-depression, #stimulus-economic, #summers-lawrence-h, #united-states-economy

Fighting Covid Is Like Fighting a War

Why Biden needs to go big and ignore the worriers.

#biden-joseph-r-jr, #committee-for-a-responsible-federal-budget, #congressional-budget-office, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-reserve-system, #polls-and-public-opinion, #recession-and-depression, #stimulus-economic, #summers-lawrence-h, #united-states-economy