American President Barack Obama on Tuesday extended the tenure of US Federal Reserve Chairman Ben Bernanke by another term.
US President Barack Obama on Thursday said he has managed to pull the American economy back from brink; which has been experiencing the worst recession since the great depression of the last century.
'Now Mr Modi has been offered a more real but different kind of war, which he has likened to the Mahabharat,' notes T N Ninan.
Addressing a meeting of top US corporate leaders, hours before the Congress finally passed the $789 billion stimulus package, Obama said this is the beginning of the hard work they all would have to do in coming years to bring the country's economic back on track.
RBI Governor Shaktikanta Das on Friday said that inflation is on a declining trajectory, as it has fallen by 170 basis points from its January 2020 peak. Retail inflation fell to four-month low of 5.91 per cent in March over the previous month, mainly due to easing food prices.
Barack Obama's audacious agenda of stimulus, reform, and regulation will shake up every business and industry
As the global economic crisis deepens, policymakers need to shed received wisdom and act pragmatically.
In addition to Pichai and Nadella, IBM's Arvind Krishna, Micron's Sanjay Mehrotra, Ajay Banga from Mastercard and Ann Mukherjee from Pernod are among the six Indian-Americans among over 200 corporate honchos who will advise the President and offer recommendations on how to revive the American economy.
It vowed to 'Keep America Rolling' after 9/11 terror attacks and also solved a puzzle about one of its Pontiac cars not liking vanilla ice cream, but it could not avoid bankruptcy, even with the help of the United States government.
Unemployed Paul W Nawrocki of New York, hangs a poster around his neck seeking job, giving his resume to everyone, outside the Grand Central Station, 42nd Street New York on November 8, 2008. Employees across the globe are worried with many global giants laying off their staff in big numbers in the wake of the global financial crisis.
America officially entered into recession in December 2007, according to National Bureau of Economic Research of the US. The 17 months of recession also coincides with the G-20 meet on April 2 in London, where the world leaders would be coming together to discuss ways to tackle the meltdown.
The short-term recommendations include improvements to regulatory coordination and oversight that regulators can make quickly. The blueprint recommends creating a new federal commission for mortgage origination to protect consumers better. The report also recommends modernizing the President's Working Group on Financial Markets and clarifying the Federal Reserve's liquidity provisioning.
This is clearly the worst financial problem we've had since the Great Depression," as Joseph Stiglitz told a radio show in New Zealand on Wednesday morning.
Meeting in the midst of an economic crisis, which is said to be the worst-ever after the great depression of the last century, and during the crucial hase of the war against terrorism, US lawmakers are eager to get cracking from day one when the 111th Congress convenes next week.
Reduce high-cost loans, create a contingency fund and play long term. These are the only mantras to survive during a slowdown.
The 94-year-old economist was a senior research fellow at the Hoover Institution at Stanford University from 1977 to 2006.
Remember the trees that bend during the storm will survive; the ones that try to defy and stand straight tend to get damaged and uprooted, points out management guru Virender Kapoor.
At this point, it is crucial to think of solutions that will help flatten the curve and also generate income, says Pratyush Banerjee.
'Those who are talking of adopting the Narasimha Rao-Manmohan Singh policy must understand now that what was a reform then is no longer a reform now,' argues Sukumar Mukhopadhyay who was associated with the 1991 economic reforms.
Pence and Trump will challenge Democratic Patry's presidential candidate Joe Biden and his running mate Indian-origin Senator Kamala Harris in the November election.
'The current financial year will see the full impact of this crisis, and we will start seeing the recovery in the next financial year.'
Reserve Bank of India (RBI) governor Raghuram Rajan says global markets are at risk of a "crash" should investors start bailing out of risky assets created by the loose monetary policies of developed economies.
"(Clinton) made a very powerful case, particularly at the beginning, for building on the economic progress that this country has made in digging out of the worst economic downturn since the Great Depression," he told reporters.
"Crisis management has been elevated to a very fine skill under his tutelage," said Lyle Gramley, a former member of the US Fed board.
'The stimulus message was tagged on to what was meant to be an exhortation to self-reliance, glossing over the near impossibility of merging the immediate requirement of relief for a huge population and a questionable strategy for the future trajectory of a large economy aspiring to superstardom,' points out Shreekant Sambrani.
While accepting the Democratic presidential nomination on Thursday night, Biden said in Delaware that "united we can and will overcome this season of darkness in America."
'We are going to have a recession this year, maybe next year too...'
Trump appeared to be unperturbed by the latest revelation that he might not have had paid income taxes for as many as 18 years.
The bank has one of the highest current account savings account share, stable credit quality, robust credit growth, adequate capital and low cost-to-income ratio, said PNB chief Sunil Mehta.
Poor quality of education is one of the most important reasons for high unemployment in India, says Kavita Nigam.
The former President addressed graduates virtually sharing tips on how they could make the most of their lives and careers amid the pandemic.
'Now is the time for India to course correct and for the government also to course correct,' says businessman Mangesh Khatri.
'The situation is quite terrifying as you have no job creation and there will be loss of jobs.'
'You peel one layer, then another layer, then another, but in the end, you will see that there is no onion inside.' 'This package has been packaged well, but there is nothing much inside the package!'
India's economy could also suffer some ill-effects without necessarily triggering retaliation via higher tariff barriers against Indian goods, says Devangshu Datta.
The US economy added 160,000 jobs in April, extending the longest streak of private-sector job growth on record.
Of the 20 deaths reported in the last 24 hours, eight were from Maharashtra, three each from Gujarat and Madhya Pradesh, two from Jammu and Kashmir and one each from Punjab, Uttar Pradesh, Karnataka and Tamil Nadu.
Voices from the Treasury are clamouring for lowering rates as this would boost demand.
Obama said when he became the country's president, the economy was on the verge of a Great Depression.
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