U.S. Economic News

January 11, 2021

U.S. News

The Washington Post reports that, in response to the pandemic, countries around the globe have increased spending on unemployment aid and medical resources while tax revenues have fallen, increasing the risks of an impending debt tsunami in emerging markets. According to the International Monetary Fund, 38 low-income countries are now either in debt distress or at high risk of falling into it, with a particular concern in tourism and commodity-dependent economies. WaPo

According to the New York Times, the Trump administration is expected to push new regulations and executive orders in an attempt to cement its positions on business, trade, and the economy before President Biden’s inauguration. While the Biden administration and a Democratic congress will likely overturn many of these through new executive orders or Congressional Review action, the Trump administration is likely to spend its last week promulgating rules on prohibiting Chinese apps and other products, re-defining gig workers, and limiting banks on social and environmental issues, amid priority issues. NYT