One of the many figures in a new report released today by the European Commission shows just how important an open trade policy is for European employment. The Trade and Jobs Report provides a host of statistics on European jobs connected to European trade. The report provides data over time at both European and Member State level, and gives statistics by industry, skill level, gender etc. For example, it shows that over 38 million jobs in the EU are supported by EU...

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The Council of the European Union: NOTES that in 2020, the framework for the annual coordination of economic, fiscal and employment policies across the European Union known as the European Semester was temporarily adjusted due to the COVID-19 pandemic towards addressing the negative health and socio-economic consequences. New economic circumstances and the European response to the COVID-19 crisis caused a temporary adjustment of the European Semester also in 2021 with policy guidance focusing solely on fiscal policies, as the...

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Economic governance and recovery Ministers exchanged views on the EU economy following the COVID-19 pandemic, and on the implications of recent developments for economic governance. They discussed the future of the EU’s economic governance framework and gave their initial views on the way forward. This topic will be discussed further and ministers will continue their consultations in order to reach a broad consensus in due course. Our efforts on boosting the economic recovery are taking effect. The EU’s response to the pandemic is...

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Clean energy needs may cause years of high prices for copper, nickel, cobalt, and lithium under a net-zero emissions scenario. The world’s historic pivot toward curbing carbon emissions is likely to spur unprecedented demand for some of the most crucial metals used to generate and store renewable energy in a net-zero emissions by 2050 scenario. 'Prices could reach historical peaks for an unprecedented length of time—and even delay the energy transition itself.' A resulting surge in prices for materials such as cobalt...

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November 08, 2021 | "Flexible Average Inflation Targeting and Prospects for U.S. Monetary Policy" by Vice Chair Richard H. Clarida at the Symposium on Monetary Policy Frameworks, The Brookings Institution, Washington, D.C. (via webcast) | Outlooks and Outcomes for the U.S. Economy The U.S. economy in the second quarter of this year made the transition from economic recovery to economic expansion.1 Given the catastrophic collapse in U.S. economic activity in the first half of 2020 as a result of the global pandemic...

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November 08, 2021 | "The U.S. Housing and Mortgage Market: Risks and Resilience" by Governor Michelle W. Bowman at the Women in Housing and Finance Public Policy Luncheon, Washington, D.C. | Good afternoon, everyone. It is a pleasure to join you today. Thank you for the invitation. Developments in the housing and mortgage markets have a major effect on the economy and the financial system, so the Federal Reserve Board monitors these markets closely. I am happy to share some...

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Welcome address by Philip R. Lane, Member of the Executive Board of the ECB, at the ECB Conference on Money Markets | 8 November 2021 | Welcome to our annual conference on money markets. This is a prominent event in our calendar: it is difficult to over-state the importance of understanding money markets for the design and implementation of monetary policy. Money markets are a seismograph for central bank liquidity conditions and market expectations of future policy, while money market...

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European Commission President Ursula von der Leyen announced today €1 billion at the 26th UN Climate Change Conference of the Parties (COP26) in Glasgow as the European Union contribution to the Global Forests Finance Pledge. This 5-year support package from the EU budget will help partner countries to protect, restore and sustainably manage forests worldwide and deliver on the Paris Agreement. President Ursula von der Leyen said: “Forests are the green lungs of the earth. We need to protect and restore them. I gladly announce...

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Speech by Christine Lagarde, President of the ECB, on the occasion of the 175th anniversary of Banco de Portugal in Lisbon | Introduction I am delighted to be here in Lisbon to celebrate the 175th anniversary of the Banco de Portugal, an institution that can be proud of its contribution to Portuguese history. And it is a history that is fused with Europe. Lisbon was home to the peaceful Carnation Revolution of 1974, which ushered in democracy and marked a crucial step...

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