RSM’s chief economist, Joseph Brusuelas, analyzed what the developments around the coronavirus relief package mean and commented on the state of the economy in this interview on Wednesday with Yahoo! Finance. … READ MORE >
Coronavirus
5 things to know this week in life sciences: Week of Dec. 21
With approval of Moderna’s COVID-19 vaccine last week for emergency use, many of us are looking forward to getting vaccinated. But this is also a good time to reflect on the decades of work that laid the groundwork for this lightning fast vaccine development effort. … READ MORE >
With added benefits, lenders stand ready to roll out more fiscal aid
The legislation provides needed relief for the small businesses most affected by the downturn and customers of financial institutions while also providing a host of measures that will provide benefit beyond the banking industry. … READ MORE >
Late year fiscal aid lifts growth prospects for 2021
Congress on Dec. 21 passed a $2.3 trillion year-end spending bill, including $1.4 trillion to fund the federal government through September 2021 and a $900 billion rescue package to provide direct fiscal aid to households and businesses equal to 4.25% of GDP. This represents the second-largest economic aid measure in … … READ MORE >
CHART OF THE DAY: Coronavirus patients overwhelm hospitals and their workers
The resurgence of the coronavirus not only threatens to overwhelm hospitals and the number of beds they have to treat patients, but it also puts enormous strain on the workers themselves and their ability to manage cases. … READ MORE >
CHART OF THE DAY: The vanishing worker
The domestic labor market is approaching a potential inflection point for millions of workers. The number of people unemployed for more than 26 weeks is rising, and they have about a 10% probability of finding work at wages similar to what they earned before their extended unemployment. … READ MORE >
CHART OF THE DAY: Homes for the holidays
Nine months into the pandemic, demand for single-family homes, buoyed by historically low interest rates, continues to soar. Confidence among builders remains high, with the National Association of Home Builders index coming in at 86 for December. … READ MORE >
Initial jobless claims increase to 885,000, a three-month high
Initial claims for unemployment insurance rose to 885,000 for the week ending Dec. 12, an increase from an upwardly revised 862,000 as claims moved above the 13-week moving average. … READ MORE >
FOMC rate decision: Policy on hold as Fed extends asset purchases
The Federal Reserve on Wednesday extended its $120 billion monthly asset purchases through September 2021 to provide sustained accommodation to the economy as it recovers from a deep pandemic-induced recession. … READ MORE >
5 things to know this week in life sciences: Week of Dec. 14
With the Food and Drug Administration approving the first COVID-19 vaccine for emergency use last week, the focus around the vaccine will start to shift toward public health messaging and how to convince tens of millions of people around the country to accept the vaccine and roll up their sleeves for a shot. … READ MORE >