Weekly Market Snapshot – August 10, 2020
Created by: Sam Tenney
- As of Saturday, August 8th, the White House has signed four executive orders, one stating that US States must continue paying out $400 a week extra in unemployment insurance benefits. These executive orders are in reaction to stalls between parties on reaching bipartisan agreement for more stimulus. ¹
- The Federal Reserve of Cleveland president Loretta Mester suggest that the labor market might be facing increased strain from rising coronavirus cases. “The tone that we’re getting from businesses really has turned down since the increase in the virus cases.” Current unemployment rates stand at 10.2%²
- The Producer Price Index (PPI) has risen 0.3% in July, after being flat for the previous six months, showing some signs of strength and inflation in the production economy.³
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