At least in developed economies, ultralow interest rates and unfazed financial markets don’t point to a near-term crisis. The new consensus says governments have more room to spend in a low-inflation world, and should use fiscal policy more proactively to drive their economies. In the pandemic, companies accelerated work on machines that can check guests into hotels, cut salads at restaurants, or collect fees at toll booths. Many companies told employees to stay away from the office well into 2021, and some signaled they’ll make flexible work permanent. Governments from California to the U.K. announced plans to ban the sale of new gasoline and diesel cars by 2035.

Source: Mint December 30, 2020 05:14 UTC