Unemployment
Scale of Covid-19 impact shows up starkly in US stats
All of the US’s key macroeconomic indicators point to a dramatic slump
Fed set to adopt ‘elements’ of price-level targeting
Covid-19 could act as a catalyst for a Janet Yellen-supported Fed move to adopt elements of price-level targeting. But questions remain about the timing of such a move
New York Fed paper finds possible failings in US pandemic aid
Research on Paycheck Protection Program says some heavily virus-affected areas of US may be losing out
Carbon tax spike could spur global recession – S&P
Higher carbon prices would trigger widespread industry defaults, says agency research unit
Fed predicts ‘unprecedented’ economic shock
Policy on hold as Q2 may see data “worse than any data we have seen”, Powell warns
US default rates could hit 8.1% without policy action – Richmond Fed
Loan forbearance policies could see this drop to “essentially zero” in 2021, researchers say
Women affected more by job losses in US lockdown – Kansas Fed
Roughly 60% of job losses were to women in the first half of March, researchers find
Bank of Israel launches targeted lending operations
Central bank offers cheap loans to banks as part of Covid-19 response package; research department estimates point to major growth impact from virus
US jobless claims eclipse previous week’s record high
Economy will require more fiscal support, say current and former senior government officials
Covid-19 uncertainty to have long-lasting impact – SF Fed paper
Inflation may turn negative over the near and medium term, researchers estimate
US unemployment could hit 32%, St Louis Fed says
Unemployment insurance claims see greatest ever post-war rise
BoE on hold as early indicators point to rapid UK downturn
Policy on hold after extraordinary actions in recent weeks; network of agents reports credit conditions are tightening
16% of US jobs in high-risk sectors – Brookings research
Researchers examine possible impact of coronavirus on US sectors and metropolitan areas
US economy could face largest quarterly contraction in history – Bullard
$2.5 trillion in national income might be wiped out, St Louis Fed president says; Congressional leaders agree $2 trillion stimulus package
Bank of Mauritius launches Covid-19 response package
Bank unveils five measures designed to bring relief for businesses and keep credit flowing
PBoC injects $79 billion into virus-hit economy
Targeted RRR cut encourages smaller banks to lend to SMEs; more easing steps expected to stabilise economy
Riksbank research looks at older workers in Sweden
More old people may remain in labour force due to changes in laws, researcher says
Schnabel takes on Germany’s ‘false narratives’ on ECB policy
Criticism based on “half-truths” imperils trust in single monetary policy and “undermines European cohesion”
Governor of the year: Mark Carney
Carney has played a vital role in managing Brexit risks while driving efforts towards climate, payments and dollar funding reform
Lesotho cuts interest rates to 6.25%
Central bank reduces rates and lowers reserves target on back of weaker domestic outlook
Central banks need to avoid dependence on markets, officials say
ECB and Fed officials reflect on relation between bond market expectations and their policy decisions, in farewell conference for Benoît Cœuré
FOMC calls halt to cutting cycle
Unanimous decision keeps rates on hold; Powell signals no move likely for some time
Paper looks at pro-cyclical consumption in Spain
Households reacted strongly to fears of job losses during economic crisis, Bank of Spain says
In-depth: have central banks worsened the secular slowdown?
IMF economist Bas Bakker shares his argument that central banks have misdiagnosed falling growth and long-run rates. He and several other economists are now calling for a rethink