• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
Computer Business World News

Computer Business World News

Trending News about Computers, Business and Tech

  • Home
  • BUSINESS
  • CAREERS
  • CLOUD
  • COMPUTERS
  • CYBERSECURITY
  • I.T.
  • TECH
  • VOIP
  • About

Biden Presses Economic Aid Plan, Rejecting Inflation Fears

March 5, 2021 by CBW Reporter

As investors look for a pickup in growth and slightly faster price increases, watchers of the Federal Reserve have begun to expect that it might begin to slow its big bond purchases, which it has been using to bolster growth, and raise interest rates sooner than had been anticipated.

The central bank has promised to leave interest rates near zero until the economy has achieved full employment and inflation is above 2 percent and expected to stay there for some time. If markets expect the economy to reach those goals sooner rather than later, that could be seen as an expression of optimism.

“If you look at why they’re moving up, it’s to do with expectations of a return to more normal levels, more mandate-consistent levels of inflation, higher growth, an opening economy,” Jerome H. Powell, the Fed chair, said of rates during a recent congressional testimony.

But markets are forward-looking: The economy has a long way to go before it will be back to full strength. Administration officials have vowed not to be distracted by improvements in high-profile numbers, like overall job growth, and instead keep pouring fuel on the recovery until historically disadvantaged groups have regained jobs, income and the benefits of other measures of economic progress.

Job gains last month came in above economists’ forecasts, but it would take more than two years of hiring at the current level to return the labor market to its employment level in early 2020.

In addition, while all demographic groups continue to feel economic pain, the fallout has not been evenly spread. Employment for Black workers remains nearly 8 percent below its prepandemic level, while employment for white workers is down about 5 percent. Black workers tend to lose jobs heavily during recessions, then gain them back only after a long stretch of job growth.

Ms. Jones, the labor department economist, said the administration was determined to accelerate the recovery for marginalized workers, noting that Black workers, in particular, took years longer to recover from the 2008 financial crisis — a delay that left lasting scars on those households.

View Source

Filed Under: BUSINESS, TECH Tagged With: Biden, Joseph R Jr, Black People, Blanchard, Olivier J, Coronavirus (2019-nCoV), Federal Reserve System, Inflation (Economics), Labor and Jobs, Labor Department (US), Law and Legislation, Portman, Rob, Powell, Jerome H, Senate, Stimulus (Economic), Summers, Lawrence H, United States Economy, United States Politics and Government

Primary Sidebar

More to See

Telarus’ UCaaS/CCaaS Provider Portfolio Now Includes Simplicity VoIP

[ad_1] Simplicity VoIP brings Netsapiens technology to the Telarus community. Telarus has added Simplicity VoIP, the provider of UCaaS … [Read More...] about Telarus’ UCaaS/CCaaS Provider Portfolio Now Includes Simplicity VoIP

Quantum computing hits the desktop, no cryo-cooling required

[ad_1] Superconducting quantum computers are huge and incredibly finicky machines at this point. They need to be isolated from anything that might … [Read More...] about Quantum computing hits the desktop, no cryo-cooling required

True Palo Alto Networks Exam Questions With Updated PSE-Strata Ideal Quality Of PDF Exam Dumps

[ad_1] Up Grade Your Vision And Skillset with Palo Alto Networks PSE-Strata Exam PDF DumpsAs of these days if we see lots of Palo Alto Networks … [Read More...] about True Palo Alto Networks Exam Questions With Updated PSE-Strata Ideal Quality Of PDF Exam Dumps

Footer

SITE INFORMATION

COMPUTER BUSINESS WORLD NEWS

About/Contact

Privacy Policy

Thank you for visiting our website.

Recent

  • Vytelle Closes Oversubscribed Series A
  • Telarus’ UCaaS/CCaaS Provider Portfolio Now Includes Simplicity VoIP
  • Quantum computing hits the desktop, no cryo-cooling required

Search

Copyright © 2022 Computer Business World