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Week Ahead: The Coronavirus Continues to Dominate Global Economies
“The path of the economy will depend on the course of the virus.” This sentence was a new addition to the FOMC’s Monetary Policy statement and reflects the uncertainty of monetary policy. The number of coronavirus cases continue to grow, not only in the US, but worldwide. This week, the RBA and the BOE will also need to address this issue as hot spots have sprung up in Australia and the UK, forcing increased localized shutdowns. Meanwhile, US congress is far apart on a new relief package as extra unemployment benefits expired on July 31st. US Democratic Presidential candidate Joe Biden is expected to select a ... (full story)