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offsite link PODCAST: Trump and Biden’s Weaknesses ... Wed Sep 30, 2020 22:39 | Kyle Anzalone

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The Saker
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Public Inquiry
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Spirit of Contradiction

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offsite link On The Decline and Fall of The American Empire and Socialism Sat Jan 26, 2019 01:52 | S. Duncan

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offsite link Review: Do Religions Evolve? Mon Aug 14, 2017 19:54 | Dara McHugh

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The Fed and Central Banks Seek Cure for COVID-hit Economy

category international | politics / elections | press release author Thursday August 27, 2020 19:59author by Zach Conti, zach@jubileeusa.org - Jubilee USA Report this post to the editors

On August 27 and 28, the US Federal Reserve and other government central banks meet for their annual retreat.

On August 27 and 28, the US Federal Reserve and other government central banks meet for their annual retreat. Traditionally held in the picturesque location of Jackson Hole, Wyoming, this year the meeting will take place virtually under the theme “Navigating the decade ahead: Implications for monetary policy.”

“Government banks are grappling with a global economy projected to worsen,” said Eric LeCompte, the Executive Director of Jubilee USA Network. “The meeting will give us a view of what role central bankers wish to play in the battle against the economic impacts of the coronavirus.”

The global economy is expected to contract by almost 5%. Emerging market and developing economies already held historically high levels of debt before the COVID-related crisis. Latin America is expected to contract about 10%.

These economic forecasts translate to United Nations projections that poverty will increase for the first time in 20 years. Ultimately, more than 130 million people will fall into extreme poverty during the next decade.

“The fate of the economy and global poverty levels are intertwined,” said LeCompte.

Jubilee USA Network is an alliance of more than 75 US organizations and 750 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

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Related Link: https://www.jubileeusa.org/the_fed_and_central_banks_seek_cure_for_covid_hit_economy
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