(Bloomberg) -- Millions of virus-idled American workers are now at home with little more than hand-wringing anxiety about where their next paycheck will come from. They are Jerome Powell’s biggest worry, and how to ease their plight with monetary policy is the Federal Reserve chairman’s largest challenge.The Fed will probably debate using instruments including stronger forward guidance or asset purchases when officials meet next month, which would add more muscle to interest rates that have already been slashed to zero.But those tools require officials to have a forecast they trust of where the economy is heading. The lack of clarity could be a reason to dial down expectations that they would take such steps in June, because officials will struggle to form an outlook as the nation slowly reopens.Policy makers have already described the difficulties that forecasters face.Vice Chairman Richard Clarida warned of “enormous uncertainty” in a CNBC interview and said “we have to be appropriately humble as we’re navigating this period.” San Francisco Fed President Mary Daly told Bloomberg Television that forecasting “has become very tough” now because it depends on the course of the virus. Philadelphia’s Patrick Harker described scenarios, including one with a second infection wave and “a painful economic contraction of GDP in 2021 as shutdowns are reintroduced.”Even so, Powell has said that the Fed will do what it can to curb the human tragedy of the virus’s economic harm.He helped nurture the longest U.S. expansion on record, a period of growth that was just starting to reach the most marginalized workers, from people with criminal records to those with little schooling.The Fed chief spent the last year on a listening tour to hear from ordinary Americans and discuss obstacles to even bigger gains.‘Absolute Limit’He’s now pledged to use Fed powers to the “absolute limit” to prevent the contraction from leaving deep scars on the economy’s long-term ability to grow -- through bankruptcies of small businesses or deterioration in worker skills. And he is boldly urging Congress to do more.“It is about not just winning the war against a depression, but it’s about securing the peace, winning the peace. We failed in 2008-09 to secure the peace,” Mohamed El-Erian, a Bloomberg columnist and chief economic adviser to Allianz SE, told Bloomberg Television Friday “We won the war against a threat of depression then, but we did not secure a peace of higher growth, more inclusive growth and sustainability.”In an April 29 press conference, Powell was asked if he’s troubled by the prospect that the downturn does the most harm to Americans who have only just managed to get a foothold in the labor market. “That’s exactly what I worry about,” he said.Record UnemploymentU.S. government data on Friday shows the nation headed in that direction. Employers cut 20.5 million jobs in April and the unemployment rate more than tripled to 14.7%, the harshest labor market downturn in the history of the data series. All the indications point to a brutal recession. The central bank wants to make sure it is as short as possible.Fed officials next month are due to refresh their quarterly Summary of Economic Projections, where all 17 anonymously write down a forecast for their policy interest rate, GDP, inflation and unemployment. They skipped the process in March due to a rapidly changing outlook.With so many puzzles yet to be resolved, they may diminish its importance or skip it again at their June 9-10 meeting.Officials have already assured investors that interest rates will be held near zero until they are confident the economy is back on track to achieve their twin goals for full employment and 2% inflation.Zero RatesTraders have priced in zero rates for the rest of the year, and possibly even negative interest rates in 2021, an idea that Powell has dismissed in the past and which other officials played down last week as a prospect in the U.S.With rates already at zero, “the second tool,” said Daly, “has been forward guidance,” and then balance sheet policies. Still, there is a sense at the Fed that monetary policy will have to be complimented with further creative fiscal policy to help push demand higher.Fed officials have worked with the U.S. Treasury and Congress to provide bridge credit to everything from Main Street businesses to the largest corporations.“Will there be a need to do more though?” Powell asked at his April 29 press conference. “I would say that it may well be the case that the economy will need more support from all of us if the recovery is to be a robust one.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

r/Coronavirus: In December 2019, a novel coronavirus strain (SARS-CoV-2) emerged in the city of Wuhan, China. This subreddit seeks to monitor the …

Final thoughts on family, faith, and what matters most.

When I first met my husband I was 16 years old. I would have said I fell in love with him immediately. We stood in the darkness of an October night and talked and talked. Two months later we exchanged those words—I love you—also whispered in the dark of night. But it took five more years before we were married, and in that time, that intense emotion that had carried us through the early months became more measured. I still felt giddy when I saw him. I still wanted to spend my life with him. I still counted him as my best friend. But true love, I learned, is slower than that initial emotional and physical connection led me to believe.

Loving our kids was similar. I felt a surge of affection (hormones?) after they were born. I felt fierce protective instincts. I was willing to sacrifice sleep and energy. But building that base of love with them took years. it went slowly. It felt as though the feeling of love was interrupted by the reality of changing diapers and spraying avocado off clothing and willing myself out of bed for one more trip to the potty in the middle of the night. But over time I learned that those moments I saw as interruptions were in fact the seeds of love. Over time, they grew.

In Matthew 13, Jesus tells a parable about the word of God. He says it is like a farmer sowing seed. He says that it falls on all different types of soil, and that when it falls on good soil it grows. I’ve always wanted to have good soil, to be the one whose faith grows firm and strong forever. Truth be told, there have been plenty of seasons where my life resembles the hard soil or the soil that produces quick growth and quick demise. But I’ve only recently noticed that the seed in the good soil, even ...

Continue reading...

Coloradans must take COVID-19, the pandemic illness caused by a new coronavirus, seriously.

The beauty of slow TV, says Spencer Stoner, is that it’s different things to different people – a travelogue, an immersive experience, an awesome screensaver. After the success of last year’s Go South, Stoner has spent a month at sea filming Go Further South, a 12-hour journey from Bluff to Antarctica.
Not to put too fine a point on it, but Go Further South is perfect for self-isolation.
It’s kind-of an unhappy accident. I’ve been in the final stage of editing and every day I feel like I’m sailing through the Ross Sea in Antarctica and it’s cool to think that…

IBM Australia and the Melbourne Institute of Applied Economic and Social Research, University of Melbourne, today announced the launch of the IBM-Melbourne Institute 'Innovation Index of Australian Industry’ second edition. The Study revealed that the annual increase in the rate of innovative activity in Australia in 2006 was only 0.7 percent, with only four industries experiencing an increase in the annual rate of innovation in that period: communication services; mining; finance; and the insurance industry.

Slow morning, it feels like. I did get up reasonably early, but ended up spending an hour sorting through exercise clothes, trying to figure out what fits well, what’s worn out, etc. Since I’m constantly going in and out of my house gardening these days, I want clothes that I’m comfortable being seen in, which … Continue reading "Slow Morning"

Chewy and Miley, both two-year-old Schnauzer dogs, are getting their hair cut at a groomer in Bangkok for the first time since the new coronavirus outbreak began in Thailand in January.

The Deepwater Horizon disaster released approximately 4 million barrels of oil from the Macondo Wellhead over the course of 87 days in 2010.  Thus, becoming…

Hurricanes moving slowly over an area can cause more damage than faster-moving storms, and rising global temperatures will likely cause more hurricanes to slow down, said Princeton atmospheric scientist Gan Zhang.

Day 24Sleeping in Skardu via Machulo 2230m or maybe 2310m depending on your info sourceKarim is a late starter.Breakfast isn't until after 0800. We are not alone there are 3 other tourists American lawyers as it turns out we bump i

The fight against the coronavirus has paralyzed society and the economy. Lockdown measures are fine for the short term, but they threaten to rapidly destroy the economy and erode our existing social order. What should the next steps be?

The Clippers shook off a slow start to beat the Miami Heat 128-111.

Robert Kim-Farley, infectious disease expert, says Stage 4 of Gov. Newsom's reopening plan for California may not be implemented until mid to late 2021.

To slow the spread of the novel coronavirus, passengers soon will be required to wear masks by the largest airlines in the U.S.

The bestselling crime novelist plans a virtual book tour for his new title, "Broken," as the coronavirus keeps him home in Southern California.

Is Kodi not working for you? Does Kodi still work for anyone? Come find out how to easily fix a broken Kodi setup or addon and access content today!

The post Kodi Not Working? Fix Broken & Slow Kodi Now appeared first on Kodi Tips.

Utah's pace of applications for unemployment benefits is slowing, but still at historic highs, according to figures released Thursday.

Health officials counted nine new cases of COVID-19 in southwest Utah, although the Utah epidemiologist says infection rates are in decline.

At Indiana University, the invincibility of youth and the freedom of college life are shattered by a school year cut short.

IndyStar went inside IU Health Methodist Hospital for an exclusive look at its COVID-19 units in the midst of the coronavirus pandemic.

California's tepid reopening amid the coronavirus sparked a mix of excitement, confusion and uncertainty.

The fight to flatten the curve and slow the spread of the coronavirus is on all of us.

Nasa says major decreases in nitrogen dioxide levels are "at least partly" linked to the outbreak.

Egypt's economy had just started to recover after years of political turmoil and militant attacks when the coronavirus crisis hit, impacting especially its vital tourism sector.

Thomas and the Saints will have to contend with a Vikings defense that has limited No. 1 receivers to an average of 53 yards per game.

Six teams are on a bye this week, giving stars like Saquon Barkley, Odell Beckham Jr., Andrew Luck, Zach Ertz and A.J. Green the week off. Here are three players that could have big games in their stead.

The presidential election is closer than you think, but thus far the celebrities are staying pretty far away.

This slow cooker taco soup with ground beef is so easy — and SO GOOD! It's perfect for busy weeks with flexible cooking times for any schedule. Serve with tortilla chips, cilantro-lime rice, or cornbread.

Continue reading "Slow Cooker Taco Soup" »

Signs of Slowing Unemployment

Where is Unemployment Slowing Faster During the...

Signs of Slowing Unemployment

While infection rates remain steady across the region, the Simcoe Muskoka District Health Unit is reporting more than half of all 360 cases have now recovered.

When you query an Oracle table and use the LIMIT clause using either SAS  Federation Server or FedSQL, a row limit is not passed to the database. In this scenario, a Full Article