Overseas Headlines – August 26, 2020

August 26, 2020

United States:
Fed Seen Holding Rates at Zero for Five-Years Plus in New Policy
“The Federal Reserve looks likely to keep short-term interest rates near zero for five years or possibly more after it adopts a new strategy for carrying out monetary policy. The new approach, which could be unveiled as soon as next month, is likely to result in policy makers taking a more relaxed view toward inflation, even to the point of welcoming a modest, temporary rise above their 2% target to make up for past shortfalls.”



Europe Puts Jobs Before Restructuring With Furloughs Extended

“In the dilemma over whether to support existing jobs during the pandemic or let the economy adapt to the post-virus world, European governments are increasingly siding with workers. Germany became the latest nation to extend a program under which the government covers the bulk of paychecks for employees who can’t work. That decision late Tuesday follows France, Italy, Switzerland and Austria, and others are considering doing the same.”



China Makes Concessions in Call for Talks on U.S. Audit Standoff

“China says it has made concessions in proposing to let U.S. regulators to audit some of its most sensitive companies and is calling for direct talks to solve a years-long dispute that threatens global markets. In an interview in Beijing on Wednesday, Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said China is “sincere” in wanting to solve the standoff over the accounting issues.”



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