Larry's Blog
American Rescue Plan Embodies and Is Likely to Create New Paradigms
March 11, 2021
At 8:00 tonight, U.S. President Biden will deliver his first prime time speech. While the timing of his talk coincides with the anniversary of the imposition of social distancing restrictions to counter the Covid-19 crisis, the address provides an opportune time to justify the American Rescue Plan, which sacrificed the initial desire that the law […] More
Central Bank Watch
ECB Maintains Interest Rate Levels and Forward Guidance and Announces Near-Term increase in Pace of PEPP Bond Buying
March 11, 2021
This week’s monetary policy review by the Governing Council of the European Central Bank left the interest rate structure unchanged, with a zero percent refinancing rate flanked by a negative 0.5% overnight deposit rate and a +0.25% rate on the marginal lending facility. Euroland has been less successful than many other places rolling out Covid-19 […] More
New Overnight Developments Abroad - Daily Update
Financial Markets Continuing to React to American Rescue Plan
March 11, 2021
The $1.9 trillion American Rescue Plan will be signed by President Biden tomorrow. This is an aggressive relief effort aimed predominantly at the middle class and includes another round of direct payments to households, an extension of unemployment benefits, and — something excluded from the CARES act — support for state and local governments. In […] More
