Fiscal policy

Media Advisory - 2024 Canadian Federal Budget: CPA Canada pre-budget interview opportunities 

Retrieved on: 
Wednesday, April 10, 2024
Fiscal policy, Housing, CPA Canada, Sustainability, Economist, Research, Intelligence, Federation, CPA, Government

CPA Canada acknowledges the many demands on spending in this challenging economic environment.

Key Points: 
  • CPA Canada acknowledges the many demands on spending in this challenging economic environment.
  • “The federal government is faced with a slowing economy, which means lower revenues, and high financing costs, which will inflate spending.
  • Supporting the Canadian Sustainability Standards Board in adopting the global baseline for sustainability reporting from the International Sustainability Standards Board.
  • Rosemary McGuire, vice-president, research, guidance and support, who can speak on CPA Canada’s sustainability and artificial intelligence-related recommendations.

Meeting of 6-7 March 2024

Retrieved on: 
Friday, April 5, 2024
Consensus, Senior advisor, Reproduction, Sick leave, Employment, Frankfurt, Next Generation, Depreciation, APP, PEPP, Absorption, ECB, Unemployment, Risk, International, Policy, Communication, Attention, Climate, NGEU, GDP, Fiscal policy, Workforce, Person, Depression, Climate change, Projection, Perseverance, M1, Disinflation, News, Human, Food, Management information system, Insurance, OIS, DeMarco, Economics, Persistent, Member, Personal ordinariate, European Central Bank, Element, Pressure, Growth, Rotation, Stagnation, Common, Consensus decision-making, ILS, Federal Reserve, Housing, Probability, Government, Convenience food

We find that banks experiencing large deposit outflows reduce credit, but not the interest rate they charge, to the same borrower relative to other lenders.

Key Points: 
  • We find that banks experiencing large deposit outflows reduce credit, but not the interest rate they charge, to the same borrower relative to other lenders.
  • This credit restriction is stronger for fixed rate and longer maturity loans, but not for riskier borrowers.

Piero Cipollone: The confidence to act: monetary policy and the role of wages during the disinflation process

Retrieved on: 
Wednesday, April 3, 2024
Reproduction, BLS, Relaxation, Frankfurt, Survey of Professional Forecasters, European Commission, PRISMA, Bocconi University, Speech, Employment, House, ECB, Blog, Hoarding, Risk, Shock, Policy, Observation, Communication, Panetta, GDP, Fiscal policy, Watcher, Depression, Projection, PMI, Disinflation, PCCI, Food, Insurance, Credit, Persistent, Personal ordinariate, European Central Bank, The, Conference, Growth, Stagnation, Environment, COVID-19, Common, HICP, United, Price, Dairy

This box investigates how households have responded to the 2021-23 inflationary episode using evidence from the ECB’s Consumer Expectations Survey.

Key Points: 
  • This box investigates how households have responded to the 2021-23 inflationary episode using evidence from the ECB’s Consumer Expectations Survey.
  • The findings suggest that households have primarily adjusted their consumption spending to cope with higher inflation.

The unequal impact of the 2021-22 inflation surge on euro area households

Retrieved on: 
Tuesday, April 2, 2024
European Central Bank, Tax, Central bank, Princeton University, Political economy, ECB, Pension, Shock, COVID-19, HSBC Finance, Coronavirus, Fiscal policy, Tao, Journal, Policy, Blog, Food, IMF, University College London, HICP, NBER, Housing, Nominal, London School of Economics, Redistribution, Data, Journal of Political Economy, Brueghel, Insurance

The 2021-22 surprise inflation surge had a major impact on households in the euro area.

Key Points: 
  • The 2021-22 surprise inflation surge had a major impact on households in the euro area.
  • Indeed, not everyone was a net loser: while about 70% of households suffered a loss, the rest enjoyed moderate gains.

Fadwa Hammoud Joins Miller Johnson as Detroit Managing Member

Retrieved on: 
Thursday, February 22, 2024
Private practice, League, Commerce, Arab Americans, Treasurer, History, Committee, Organization, Human resources, Intellectual property, Woman, Fiscal policy, Trustee, American Affairs, The Capital, Federal, State, Muslims, League of Women Voters, Henry Ford College, Commission, Supreme court, Michigan Lawyers Weekly, Management

DETROIT, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Miller Johnson today announced that Fadwa Hammoud, Chief Deputy Attorney General of the State of Michigan and former Solicitor General of Michigan, has been named Managing Member of the firm’s Detroit office.

Key Points: 
  • DETROIT, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Miller Johnson today announced that Fadwa Hammoud, Chief Deputy Attorney General of the State of Michigan and former Solicitor General of Michigan, has been named Managing Member of the firm’s Detroit office.
  • Hammoud will help lead key lines of service for Miller Johnson, including crisis management, dispute resolution, intellectual property, health care, corporate, mergers and acquisitions, real estate, and education law.
  • Hammoud immediately joins the firm’s leadership team and will report directly to David Buday, Managing Member of Miller Johnson.
  • Hammoud is a member of several organizations, including the League of Women Voters, American Association of University Women, and the Women Lawyers Association.

China: From Pandemic-Induced Downturn to Resilient and Sustainable Growth

Retrieved on: 
Monday, February 5, 2024
Traction, Policy, Growth, Population growth, Pressure, GDP, Research, Ageing, Climate change, Carbon, Investment, Risk, Fiscal policy, Entrepreneurship, AMRO, Renewable energy

Looking ahead, given China's sound macro fundamentals, the country should step up its efforts to pursue high-quality growth that is resilient, inclusive, and sustainable.

Key Points: 
  • Looking ahead, given China's sound macro fundamentals, the country should step up its efforts to pursue high-quality growth that is resilient, inclusive, and sustainable.
  • This is according to the 2023 Annual Consultation Report on China published by the ASEAN+3 Macroeconomic Research Office (AMRO) today.
  • AMRO forecasts GDP growth at 5.3 percent in 2024 – with risks tilted moderately to the downside – and 4.9 percent in 2025.
  • Consumption will be the primary driver of economic growth this year and next year, supported by further improvements in labor market conditions.

44 per cent chance Ottawa increases debt over 10-year period; likelihood of failure jumps to 59 per cent over 20 years

Retrieved on: 
Thursday, February 1, 2024
GDP, Research, Fraser Institute, Government, Federation, Quality of life, Public policy, Bangladesh Technical Education Board, Entrepreneurship, Anchor, Fiscal policy

Adrift without an Anchor: Federal Fiscal Policy and Canada’s Long-Term Debt Ratio finds that that there is a 44 per cent chance that the federal debt to GDP ratio will increase by 2036-37, and a 59 per cent chance it will increase by 2046-47—meaning the federal government would fail to stick to its core fiscal goal.

Key Points: 
  • Adrift without an Anchor: Federal Fiscal Policy and Canada’s Long-Term Debt Ratio finds that that there is a 44 per cent chance that the federal debt to GDP ratio will increase by 2036-37, and a 59 per cent chance it will increase by 2046-47—meaning the federal government would fail to stick to its core fiscal goal.
  • The deterioration in the federal fiscal position over the past year, with larger projected deficits, interest rates, and debt levels, has increased the likelihood of higher debt ratios in the future.
  • Critically, major economic downturns, such as recessions, directly impact public debt due to declines in government revenues and increases in government spending, leading to larger budget deficits.
  • To protect the Institute’s independence, it does not accept grants from governments or contracts for research.

Philip R. Lane: Interview with Corriere della Sera

Retrieved on: 
Friday, January 19, 2024
Big data, Corriere della Sera, European Central Bank, ESM, Commission, Risk, Fiscal policy, Policy, Orientation, Next Generation EU, Insurance, Aggression, History, Element, Government, Frankfurt, Single Resolution Mechanism, Investment, Reproduction, Pressure, Board of directors, Strait, Industry, Eurostat, Treaty, Time, Disinflation, Communication, Data, ECB, European banking union

Bank market power, both in the loan and deposit market, has important implications for credit provision and for financial stability.

Key Points: 
  • Bank market power, both in the loan and deposit market, has important implications for credit provision and for financial stability.
  • This article discusses these issues through the lens of a simple theoretical framework.

T. ROWE PRICE EXPERTS SHARE 2024 OUTLOOK FOR GLOBAL FINANCIAL MARKETS

Retrieved on: 
Tuesday, November 14, 2023
Absorption, Artificial intelligence, Employment, Policy, Treasury, Federal Open Market Committee, Imagination, Risk, FOMC, Fiscal policy, Obesity, Intelligence, Magnificent, Weakness, T. Rowe Price, Digital, Software, Housing, Internet, Apple, Overweight, Electricity, AI, Microsoft, Fed, Environment, Meta, Purgatory, Security (finance), Bank, Uranium mining, Cryptocurrency, Life insurance, Amazon, NVIDIA, Alphabet

BALTIMORE, Nov. 14, 2023 /PRNewswire/ -- T. Rowe Price held its 41st annual global market outlook press briefing today in New York City, with a panel of the firm's experts sharing their expectations for global financial markets in 2024.

Key Points: 
  • New regime of "higher for longer" inflation, elevated interest rates, and slower economic growth are setting the context for stock and bond markets
    BALTIMORE, Nov. 14, 2023 /PRNewswire/ -- T. Rowe Price held its 41st annual global market outlook press briefing today in New York City, with a panel of the firm's experts sharing their expectations for global financial markets in 2024.
  • If the economy remains resilient, the market will gradually price in fewer rate cuts in 2024.
  • Steve Boothe, Portfolio Manager, Head of Global Investment-Grade Debt, Fixed Income Division
    "Fixed income markets sit at a fragile equilibrium.
  • The global technology opportunity set extends across all geographies, all markets, and all major subsectors of tech—hardware, software, internet, and payments.

No Recession, but the UCLA Anderson Forecast Foresees a Weak U.S. Economy in 2024

Retrieved on: 
Wednesday, October 4, 2023
CHIPS, Fed, Employment, Food, Housing, Face, Federal, Policy, North American Energy Infrastructure Act, UCLA Anderson School of Management, United Auto Workers, Movement, Government, European Chips Act, EVS, Inflation, Federal Reserve, GDP, Investment, CHIPS and Science Act, Growth, Inflation Reduction Act of 2022, UCLA, Fiscal policy, Video game, Tourism, Clothing, Renewable energy

LOS ANGELES, Oct. 4, 2023 /PRNewswire/ -- For three consecutive quarters, the UCLA Anderson Forecast presented two potential scenarios for the U.S. and California economies. One path anticipated aggressive inflation-fighting action by the Federal Reserve that would push the economy into a mild, near-term recession, the other allowed for less impact from the Fed's interest rate increases that would result in a slowing economy and no recession. While many economists held fast to a recession prediction, the UCLA Anderson Forecast viewed it as a 50-50 proposition.

Key Points: 
  • While many economists held fast to a recession prediction, the UCLA Anderson Forecast viewed it as a 50-50 proposition.
  • UCLA Anderson Forecast: Weak economy in '24, but no recession.
  • In the latest U.S. report, the UCLA Anderson Forecast foresees a weak economy in 2024, followed by a return to trend growth rates, albeit below trend GDP levels, in 2025.
  • As in the national forecast, the current UCLA Anderson Forecast for California sees no recession in the near term.