New Stimulus Try, Basic Income Trial, Debt Moratorium: Eco Day

Welcome to Friday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • A last-ditch attempt by Democrats and the White House to restart negotiations on a new stimulus drew skepticism in Congress that a deal could be reached and written into law by Election Day
  • Group of Seven countries will agree to back an extension of a freeze in debt payments from the world’s poorest countries struggling with the coronavirus pandemic, according to people familiar with the discussions.
  • The U.S. interest in direct cash payments seems to have grown more urgent: the city of Stockton in California is running the first American basic income trial in decades
  • Occupation is a big determinant of how much a person makes. But U.S. incomes can vary widely among workers of different sexes and races who do the same type of work
  • A surge in U.K. unemployment is virtually inevitable after Chancellor Rishi Sunak reduced the government’s defense against the economic chaos of the coronavirus
    • Chancellor Rishi Sunak announced measures to help businesses survive the winter but warned that an unemployment “tragedy” is already under way as coronavirus hits the U.K. again

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