Labour market
Bank of Canada ‘recalibrates’ QE programme
Central bank changes programme’s focus as Covid-19 cases climb
Haldane explores long-term consequences of home working
Welfare impact seems broadly positive, but it is uneven and may not last, says BoE chief economist
Frank Smets on the ECB’s strategy review
The ECB’s DG of economics explains how expectations, communication, fiscal dominance, climate change and the Fed’s actions will be factored into the ECB’s delayed strategy review
SF Fed’s Daly calls for major action on US inequality
Fed can use new policy framework to cut inequality but Federal government must do more, says Daly
Bankruptcies could trigger ‘protracted’ unemployment – BIS research
Reallocating resources quickly will help reduce the pain of adjustment, economists say
Unemployment is a national priority, says RBA’s Lowe
Central bank’s latest data shows unemployment at 7.5%
Fed’s new framework splits opinion
Former Fed officials offer mixed reactions to average inflation targeting, with most calling for the US central bank to refine its communication
FOMC signals rates likely to stay on hold until 2023
Latest Fed projections say inflation likely to stay below target for several years
BoE officials fear long-term ‘scarring’ as uncertainty hits record high
MPC members broadly gloomy on the outlook, but there is “huge” uncertainty, says Andrew Bailey
Fed’s new framework will help poorer communities – former Fed official
New approach recognises benefits of long expansion to low-income communities, says Stephanie Aaronson
ECB ready to adjust its policy instruments – Philip Lane
MAS chairman warns that post-pandemic labour markets will need new public policies
Podcast: Cleveland Fed director on all things inflation and Covid-19
Robert Rich discusses money supply growth and muted inflation, plus new Fed research on the Phillips curve and alternative inflation targets
Ageing population helps explain inequality in US – BIS paper
Firms gain greater market power as workers grow older, authors say
Covid-19 policy-making and the need for high-speed data
High-frequency data holds the promise of speed and adaptability, but the rush to find alternative economic indicators has the potential to create problems
Improvements in US consumer expectations halt in July
Households more pessimistic as Covid-19 continues to spread, New York Fed survey reveals
BoE says negative rates ‘in toolbox’ and forecasts slow recovery
First “proper” forecast since Covid-19 outbreak gives little hope of a V-shaped recovery
Labour market situation is ‘complicated’ – RBA’s Lowe
Unemployment likely to worsen despite initial signs of recovery, governor says
Singapore faces most severe downturn since independence – Menon
Singapore’s economic situation remains “dire” and activity will be below pre-crisis levels “for quite a while”
Brainard urges caution about US recovery
Bounce in activity came earlier than expected but major risks still loom, Fed board member says
US citizens think Fed’s communication strategy needs adapting – Fed report
“Fed Listens” events revealed a lack of understanding about inflation targeting, report shows
Recession causes inequality ‘double whammy’ – research
Paper links loss of hours worked to inequality, with recessions causing a negative ratchet effect
Fed promises to keep buying assets at current rate
Fed will hold accommodation in place for “however long it takes”, chair Jerome Powell says; FOMC releases first projections this year
Record hiring needed to reach pre-crisis unemployment by end-2021 – paper
Hiring four times faster than most robust pace in Great Recession still not enough, researchers find
Economists challenge standard notion of labour market recovery
Paper on post-crisis recoveries questions demand shortfall narrative