Friday, October 16, 2020

  • FT: This was the week we witnessed the funeral of austerity. 
  • The IMF and World Bank are urging richer countries to spend their way out of the pandemic, although some developing nations continue to face cuts 
  • The U.S. budget deficit hit a record $3.132 trillion during fiscal 2020, more than triple the 2019 shortfall, as a result of massive coronavirus rescue spending, the U.S. Treasury said on Friday.
  • The deficit more than doubled the previous record of $1.416 trillion in fiscal 2009, when the United States was battling a financial crisis. 
  • Median weekly earnings of the nation's 109.7 million full-time wage and salary workers were $994 in the third quarter of 2020 (not seasonally adjusted). This was 8.2 percent higher than a year earlier, compared with a gain of 1.2 percent in the CPI-U.
  • Boris Johnson just told the U.K. to prepare for a no-deal Brexit. 

  • Japan plans to release Fukushima water into the Pacific Ocean 

  • The Covid-19 treatment remdesivir has no substantial effect on a patient’s chances of survival, a clinical trial by the World Health Organization has found. 

  • Retail sales above expectations at 1.9% - Good news on consumption at a time when many people have lost extra benefits.

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