President of the Federal Reserve Bank on Minneapolis Neel Kashkari speaks during an interview in New York
  • Minneapolis Federal Reserve President Neel Kashkari told CBS “Face the Nation” on Sunday the recovery from the pandemic is stalling and called for more for fiscal aid. 
  • He said:  “If 11 million Americans can’t pay their bills, can’t put food on the table, can’t make their credit card payments, their car payments, that has spillover effects to other sectors of the economy.” 
  • Democrats rejected an increased offer of $1.8 trillion in fiscal aid by the White House over the weekend. 
  • Visit Business Insider’s homepage for more stories.

Minneapolis Federal Reserve President Neel Kashkari told CBS’s “Face the Nation” on Sunday the strong recovery seen in the US economy in recent months has “flattened” out and called on lawmakers in Washington to reach an agreement on another round fiscal aid. 

“The recovery, the

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CLEVELAND, Ohio — One of the most contentious political debates in Northeast Ohio this year is not about the presidential election, control of the Senate or even the Ohio Statehouse corruption scandal.

It’s about zoning in Pepper Pike.

Hundreds of yard signs bearing the phrase “No to Mixed-Use” are scattered throughout the small, well-to-do far-eastern suburb. They line the sidewalk-less residential streets as part of an effort that opposition organizer Manny Naft said aims to keep the city’s “bucolic” nature.

The signs refer to a measure on the Nov. 3 ballot to change the zoning for a 68-acre tract of land owned by behavioral health services nonprofit Beech Brook, along with two smaller adjoining lots. The issue has divided the community.

The division resulted in online bickering, contentious town hall meetings, threats of defamation lawsuits and even unused condoms left at Axiom Development Principal Bryan Stone’s home.

Stone, who lives

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  • There is growing concern that the US economic recovery from the depth of the coronavirus pandemic is starting to lose steam and Congress needs to pass another fiscal aid bill.
  • But there are reasons for continued optimism — the housing market, consumer spending, service sector improvements — even without another aid bill.
  • Neil Dutta is the head of economics at Renaissance Macro Research. 
  • This is an opinion column. The thoughts expressed are those of the author.
  • Visit Business Insider’s homepage for more stories.

There’s been some concern that the US economic recovery is losing steam, making another package of federal aid more necessary. Indeed, MarketWatch reports that the consensus among economists sees the economy entering a weaker phase. 

As the odds of additional action from Congress wanes, forecasters are paring their growth expectations through year end. While additional fiscal help would be welcome, the evidence shows that the US recovery

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The coronavirus epidemic — and the collapse in global interest rates it has sparked — may have blown a hole in conventional market wisdom that Japan’s yen strengthens during crises, triggering a warning bell for investors.

The yen has long been among the assets in greatest demand during disasters, when waves of overseas-held capital traditionally flee back to Japan, pushing the currency higher.

And for more than two decades, the trend has held.

Also read: Daily Rupee Call: Sell INR below 73.85

Since 1997, a 5 per cent fall in the US S&P500 index was accompanied 76 per cent of the time by yen appreciation, according to a study by Nordea.

In mid-March, when the pandemic shock was at its height, that didn’t happen. US equities tumbled 9 per cent and 15 per cent in successive weeks but the yen fell, too. In subsequent sell-offs, including this month’s 4 per

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Stephen Roach.
  • The US dollar could collapse by the end of 2021 and the economy can expect a more than 50% chance of a double-dip recession, the economist Stephen Roach told CNBC on Wednesday.
  • The US has seen economic output rise briefly and then fall in eight of the past 11 business-cycle recoveries, Roach said.
  • Grim second-quarter data cannot be dismissed, he said, pointing out that “the current-account deficit in the United States, which is the broadest measure of our international imbalance with the rest of the world, suffered a record deterioration.”
  • Roach last predicted a crash in the dollar index in June, when it was trading at about 96. He said at the time that it would collapse 35% against other major currencies within the next year or two.
  • Visit Business Insider’s homepage for more stories.

The “seemingly crazed idea” that the US

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The OECD said the combined GDP of its members fell by 9.8% in the second quarter of 2020. Photo: Mike Kemp/In PIctures via Getty Images
The OECD said the combined GDP of its members fell by 9.8% in the second quarter of 2020. Photo: Mike Kemp/In PIctures via Getty Images

The economic damage done to developed nations by the COVID-19 crisis has far eclipsed the damage done by the financial crisis, the Organisation for Economic Co-operation and Development (OECD) said on Wednesday.

The OECD, which represents 37 developed nations around the world, said the combined GDP of its members fell by 9.8% in the second quarter of 2020.

The second quarter collapse in GDP was “unprecedented,” the OECD said, and “significantly larger” than the 2.3% decline seen in the first quarter of 2009, which marked the worst three month period of the financial crisis.

The OECD and its partners represent 80% of global trade and investment, according to the organisation, underlining the importance of its figures.

The organisation said the huge second quarter GDP slump

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Thanks to the work of Black Lives Matter, more people than ever seem to finally be ready for a racial reckoning – acknowledging systemic racism and racial inequalities and seeking ways to address them.

We can question the motives and be skeptical about actions that may or may not just be surface-level, reputation management on the part of organizations that don’t want to lose customers – but every one of us should be hoping and working for real change. 

Our nation’s economic recovery depends on it. And the pursuit of social justice in turn depends on economic recovery.

In June, Barron’s offered a detailed exploration of Why the Widening Wealth Gap is Bad News for Everyone. Senior writer Reshma Kapadia does an excellent job of connecting the dots from our nation’s wealth and income disparities to health and education

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President Donald Trump’s election-year economic record looks extraordinarily bleak: widespread business failures, the highest unemployment since the Great Depression, the largest output drop in modern history.



a person holding a sign: Jean Benjamin joins with unemployed airport workers, the Black Lives Matter Alliance of Broward and other supporters to ask that Delta Airlines contractor, Eulen America, who the demonstrators say received $25 million from the CARES Act, hire back their unemployed Fort Lauderdale-Hollywood International Airport workers on August 13, 2020 in Fort Lauderdale, Florida.


© Joe Raedle/Getty Images
Jean Benjamin joins with unemployed airport workers, the Black Lives Matter Alliance of Broward and other supporters to ask that Delta Airlines contractor, Eulen America, who the demonstrators say received $25 million from the CARES Act, hire back their unemployed Fort Lauderdale-Hollywood International Airport workers on August 13, 2020 in Fort Lauderdale, Florida.

That’s not how the President describes it as he prepares to accept his party’s nomination once again at this week’s upcoming Republican National Convention. He instead emphasizes the early shape of recovery, calling it a “Super V” pointing back up toward prosperity.

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But the “V” points up from the bottom of an economic crater; its direction from here remains uncertain. At minimum, that complicates Trump’s

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Mark Meadows, Steven Mnuchin are posing for a picture: White House Chief of Staff Mark Meadows and Treasury Secretary Steven Mnuchin speak to reporters on Capitol Hill in Washington, D.C. on August 6, 2020. Mnuchin said on Thursday there's still "a handful of very big issues" that House Democrats and Senate Republicans need to negotiate before securing a deal for a second federal relief package.


© Samuel Corum/Stringer
White House Chief of Staff Mark Meadows and Treasury Secretary Steven Mnuchin speak to reporters on Capitol Hill in Washington, D.C. on August 6, 2020. Mnuchin said on Thursday there’s still “a handful of very big issues” that House Democrats and Senate Republicans need to negotiate before securing a deal for a second federal relief package.

Negotiations over a second economic relief bill are continuing in Washington, but Senate Republicans and House Democrats are making little progress toward a deal anytime soon.

“There’s a handful of very big issues that we are still very far apart,” Treasury Secretary Steve Mnuchin said Thursday.

Mnuchin has met with White House chief of staff Mark Meadows, House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer all week in hopes of securing an agreement between both sides before the traditional August recess, which was scheduled to begin Friday.

HEROES vs.

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