The Deloitte Global Economist Network is a diverse group of economists that produce relevant, interesting and thought-provoking content for external and internal audiences. The Network’s industry and economics expertise allows us to bring sophisticated analysis to complex industry-based questions. Publications range from in-depth reports and thought leadership examining critical issues to executive briefs aimed at keeping Deloitte’s top management and partners abreast of topical issues. Personal income and consumer spending both declined in November and some measures of housing activity weakened after many months of stellar performance. The weakness likely resulted from the impact of the massive surge in the virus.
As part of our core mission, we supervise and regulate financial institutions in the Second District. Our primary objective is to maintain a safe and competitive U. S. and global banking system. Working within the Federal Reserve System, the New York Fed implements monetary policy, supervises and regulates financial institutions and helps maintain the nation’s payment systems. American voters express relatively little confidence in either major party presidential candidate when it comes to their ability to help American workers prepare to compete in today’s economy. About six-in-ten U. S. adults say there’s too much economic inequality in the country these days, and among that group, most say addressing it requires significant changes to the country’s economic system, according to a new Pew Research Center survey.
Forty-three percent of Black Americans mention racism and racial inequality as a priority for 2021, compared with 22% of white Americans and 21% of Hispanics. The Democratic president-elect last week unveiled a proposed $1. 9 trillion coronavirus relief package and has vowed to provide 100 million vaccination shots in his first 100 days, an ambitious goal that his health team is already scrambling to meet.
Will the incoming Biden administration pursue similar efforts to cause a decoupling between the two sides? It is too early to say, but it seems likely that the new administration will, at the least, attempt to lower the temperature and to engage China in discussions meant to ease some economic restrictions. For example, Biden himself said that he will reconsider the tariffs imposed by the current administration. It is likely that he will seek negotiations aimed at cutting bilateral tariffs and other restrictions. At the same time, Biden and his team have indicated concern about many of the particular same issues that the Trump administration has attempted in order to address.
This suggests that Japanese investors are removing funds from the United States, which has a double negative impact. The repatriation of funds from dollar-denominated assets means that investors are abandoning profitable investments to bring money back to Japan where it will earn less—not a good development for the economy. Here are all of the forms, instructions and other information related to regulatory and statistical reporting in one spot. The New York Fed works to protect consumers as well as provides information and resources on how to avoid and report specific scams.
Although the number of new infections began to abate toward the end of December, public health officials worry that the increase in holiday travel in late December will result in yet another surge in infections in early January. On the positive side, the distribution of vaccines is under way, offering the promise that, sometime later in the year, the negative impact of the virus could ultimately abate. On the negative side, the virus continues to threaten economic stability, especially in those parts of the world where the outbreak has not been controlled. This is true in the United States and the United Kingdom and threatens to be a problem elsewhere as the new strains of the virus spread further. The challenge for policymakers will be to stifle the current outbreak, protect those who are disrupted by the outbreak, and speed up distribution of the vaccine.