New Stimulus Try, Basic Income Trial, Debt Moratorium: Eco Day

Welcome to Friday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • A last-ditch attempt by Democrats and the White House to restart negotiations on anew stimulus drew skepticism in Congress that a deal could be reached and written into law by Election Day
  • Group of Seven countries will agree to back an extension of afreeze in debt payments from the world’s poorest countries struggling with the coronavirus pandemic, according to people familiar with the discussions.
  • The U.S. interest in direct cash payments seems to have grownmore urgent: the city of Stockton in California is running the first American basic income trial in decades
  • Occupation is a big determinant of how much a person makes. But U.S. incomes can vary widely among workers of different sexes and races who do the same type of work
  • Asurge in U.K. unemployment is virtually inevitable after Chancellor Rishi Sunak reduced the government’s defense against the economic chaos of the coronavirus
    • Chancellor Rishi Sunak announced measures to help businesses survive the winter but warned that anunemployment “tragedy” is already under way as coronavirus hits the U.K. again

    Source: Read Full Article