An unprecedented fiscal support As of April 2021, the United States leads by a wide margin the Discretionary Fiscal Response to the COVID-19 Crisis enacted by the world’s Advanced Economies, especially when it comes to straightforward fiscal measures comprising additional spending and forgone fiscal revenue. As in other countries, the US fiscal policy response to […]
Key takeaways Over the last two weeks, four developers of a COVID-19 vaccine – out of more than 150 programmes currently engaged in a COVID-19 global vaccine race – published the successful results of Phase 1 clinical trials. The frontrunners in this race are: US Biotech firm Moderna, Oxford University with AstraZeneca and, last but […]
On June 17 2020, ahead of a tense EU-China summit, the European Commission published a white paper on levelling the playing field as regards foreign subsidies. The white paper is the result of a yearlong inflexion in EU’s foreign policy and economic doctrine in order to adapt the European Union to the realities of a Multipolar World by promoting a model of open strategic autonomy and by acknowledging China as a “strategic competitor” and as a “strategic rival”.
TThe FOMC April 28 meeting minutes provide some glimpse into the Federal Reserve’s early assessment of the crisis triggered by the coronavirus pandemic, the outlook for the US economy over the coming months and quarters. Fed Chair Powell testimony on May 19 before the US Senate Committee on Banking, Housing and Urban affairs offers additional insights into the Fed’s current thinking and options to contain the economic impact of the coronavirus crisis and to speed-up the recovery of the US economy.