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Federal Reserve Bank of St. Louis: US Economic Activity Contracted Sharply During 2020 As Covid-19 Spread and Government Introduced Policies Aimed At Curbing the Virus
US economic activity contracted sharply during 2020 as COVID-19 spread and government introduced policies aimed at curbing the virus. Understanding the impact of the pandemic on economic activity as well as the effectiveness and economic impact of health and containment policies has been a major challenge faced by policymakers. The fundamental issue is that economic activity, COVID-19's spread, and health and containment policies are interconnected — they simultaneously influence each other. In a recent working paper, we develop a methodology to investigate the causal linkages among COVID-19's spread, health and containment policies, and economic activity.1 In this two-part essay, we present a nontechnical summary of our approach and main findings. In particular, Part I explains our methods and summarizes how COVID-19 has affected economic activity and government policies. Part II describes the effects of government policies on COVID-19's spread and economic activity. more »
Pew Research: REPORT JUNE 30, 2021, Behind Biden’s 2020 Victory An examination Of The 2020 Electorate, Based on Validated Voters
"Overall, one-in-four 2020 voters (25%) had not voted in 2016. About a quarter of these (6% of all 2020 voters) showed up two years later – in 2018 – to cast ballots in the highest-turnout midterm election in decades. Those who voted in 2018 but not in 2016 backed Biden over Trump in the 2020 election by about two-to-one (62% to 36%). Both Trump and Biden were able to bring new voters into the political process in 2020. The 19% of 2020 voters who did not vote in 2016 or 2018 split roughly evenly between the two candidates (49% Biden vs. 47% Trump). However, as with voters overall, there was a substantial age divide within this group. Among those under age 30 who voted in 2020 but not in either of the two previous elections, Biden led 59% to 33%, while Trump won among new or irregular voters ages 30 and older by 55% to 42%. Younger voters also made up an outsize share of these voters: Those under age 30 made up 38% of new or irregular 2020 voters, though they represented just 15% of all 2020 voters." more »
Don't Miss Pan American Unity, A Mural by Diego Rivera at S.F. Moma in San Francisco, On View For Free Until 2023 When It Returns to CCSF
"The fresco depicts in colorful detail a past, present, and future that the artist believed were shared across North America, calling for cultural solidarity and exchange during a time of global conflict. Completed with support from local artists and assistants, with scenes of the Bay Area as a backdrop, the mural celebrates the creative spirit through portraits of artists, artisans, architects, and inventors who use art and technology as tools to shape society." After the fair, Pan American Unity — measuring twenty-two by seventy-four feet and weighing over sixty thousand pounds — was moved to the campus of City College of San Francisco (CCSF). This was possible because Rivera painted this fresco not on a wall, but on ten steel-framed cement panels. More than half a century later, an international team of experts has spent years planning another move. In partnership with CCSF, SFMOMA presents Rivera’s Pan American Unity in the museum’s free-to-the-public Roberts Family Gallery on Floor 1. On view until 2023, the mural will then return to CCSF to be installed in a new performing arts center. more »
Department of Justice Begins Third Distribution of Forfeited Funds to Compensate Victims of Fraud Scheme Facilitated by Western Union
The Department of Justice announced today that the Western Union Remission Fund began its third distribution of approximately $66 million in funds forfeited to the United States from the Western Union Company (Western Union) to approximately 6,000 victims located in the United States and abroad... According to court documents, in the scheme, fraudsters targeted consumers, including seniors, through multiple scams. Three specific scams directed towards seniors included the so-called grandparent scam, where the fraudster would pose as the victim’s relative in purported need of immediate money to avoid personal harm; lottery or sweepstakes scams, where the fraudster would tell the victim that he or she had won a large cash prize but had to pay fees, such as taxes, to claim the prize; and romance scams, where the fraudster would pose as an online love interest and request funds for a visit or for another purpose. In each of these scams, the fraudsters convinced their victims to send money through Western Union. more »