China central bank should shun risky bond buying as economy improves: adviser

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FILE PHOTO: The headquarters of the People’s Bank of China, the central bank, is pictured in Beijing, China, as the country is hit by an outbreak of the new coronavirus, February 3, 2020. REUTERS/Jason Lee

BEIJING (Reuters) – The People’s Bank of China should avoid buying special treasury bonds as such a move could fuel inflation risks and asset bubbles and lead to depreciation of the yuan currency, central bank policy adviser Ma Jun said in remarks published on Sunday.

China’s leaders have pledged to take more steps to support the virus-ravaged economy, prompting a heated debate among economists and

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White House adviser expects U.S. unemployment rate for April to be ‘north of 16%’

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FILE PHOTO: Council of Economic Advisers Chairman Kevin Hassett speaks to reporters at the White House in Washington, U.S., April 1, 2019. REUTERS/Kevin Lamarque

WASHINGTON (Reuters) – White House economic adviser Kevin Hassett on Tuesday said he expects the U.S. unemployment rate was above 16% in April, as the coronavirus pandemic began to devastate the country’s economy.

“My guess right now is it’s going to be north of 16%, maybe as high as 20%,” Hassett said in an interview with CNN about the unemployment rate the federal government will report on Friday. “So we are looking at probably the worst

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White House adviser will not rule out more money for states, small businesses

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WASHINGTON (Reuters) – White House economic adviser Larry Kudlow said on Sunday he would not rule out anything in a new relief bill to ease the “tremendous hardships” of the coronavirus outbreak, including more money for state and local governments and small businesses.

More than 30 million Americans have joined the unemployment benefit rolls over the past six weeks and lawmakers on Capitol Hill are discussing a fourth coronavirus relief bill.

Democrats are pushing for additional aid to help cities and states cope with lost revenue from a shut-down economy and some governors have warned of massive layoffs if they

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U.S. economy faces historic shock, with 16% joblessness possible, Trump adviser says

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WASHINGTON (Reuters) – The shuttering of the U.S. economy due to the coronavirus pandemic is a shock of historic proportions that will likely push the national unemployment rate to 16% or higher this month and require more stimulus to ensure a strong rebound, a White House economic adviser said on Sunday.

“It’s a really grave situation,” President Donald Trump’s adviser, Kevin Hassett, told the ABC program “This Week.”

“This is the biggest negative shock that our economy, I think, has ever seen. We’re going to be looking at an unemployment rate that approaches rates that we saw during the Great

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