As we've been doing on Fridays, we have some new indicators of the week to share! Stacey and Cardiff each pick an indicator that they came across that they find to be really striking, surprising, insightful, informative, or that just blew their minds.
Our first indicator is almost zero. This is where the Federal Reserve said that it is going to keep interest rates until the year 2023. Low interest rates are supposed to help the economy by convincing businesses and individuals to borrow money, keeping money flowing through the economy. However, there is always this tension with keeping interest rates low: inflation, or rising prices. Nevertheless, the Federal Reserve has signaled that they are prioritizing growing the economy first, and then dealing with inflation later.
Our second indicator is 131 million. That is how many more people have fallen into the category of the global poor in 2020 because of the Covid-induced recession that exists in so many parts of the world. This is a huge increase, roughly 20%, and it erases about a third of the progress the world made in this area between 2011 and 2019.
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