Spanish Minister of Economic Affairs talking with the German Chief of Staff and acting finance minister. Photo: Thierry Monasse/Getty Images

The world may finally be getting out of a global downturn, according to NYT's Peter Goodman. "For the first time since the financial crisis a decade ago, all of the world’s major economies are growing," he writes.

Why it matters: "The world is now enjoying a positive feedback loop, with growing business confidence leading to more hiring, delivering gains in consumer spending. More money in consumer pockets gives businesses more reason to expand," Goodman notes.

Factors that have led to this growth:

  • United States: "[G]overnment spending unleashed during the previous administration, plus a recent $1.5 trillion shot of tax cuts."
  • Europe: Benefitting from "the effects of cheap money pumped out by its central bank."
  • "China has diminished fears of an abrupt halt to its decades-long growth trajectory."
  • Russia and the Middle East: rising oil prices
  • Mexico has "transcended fears that menacing trade rhetoric from the Trump administration would dent its economy"
  • Poland and Brazil have seen an increase in the number of online job listings

What they're saying: As Barret Kupelian, senior economist in the London office of PwC, told NYT: “If something bad happens in one economy, the fact that global growth is spread gives you more assurance that this is more sustainable.”

But, but, but: "Many economists are skeptical that the benefits of growth will reach beyond the educated, affluent, politically connected class that has captured most of the spoils in many countries and left behind working people whose wages have stagnated even as jobless rates have plunged."

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Trump says he's prepared to sign executive orders on coronavirus aid

President Trump. Photo: Jim watson/Getty Images

President Trump, speaking from a podium at his golf club in Bedminster, N.J., on Friday announced that he is prepared to issue executive orders suspending payroll taxes and extending enhanced unemployment benefits through the end of 2020, and halting student loan interest and payments indefinitely.

Why it matters: The impending orders come after talks between the White House and Democratic leadership collapsed Friday afternoon. But Trump said he remains committed to striking a deal with Congress on a broader stimulus package before signing the orders.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 4 p.m. ET: 19,193,661 — Total deaths: 716,735 — Total recoveries — 11,611,029Map.
  2. U.S.: Total confirmed cases as of 4 p.m. ET: 4,918,927 — Total deaths: 160,737 — Total recoveries: 1,598,624 — Total tests: 59,652,675Map.
  3. Politics: White House recommends Trump issue executive orders on coronavirus aid.
  4. Education: Cuomo says all New York schools can reopen for in-person learning.
  5. Public health: Surgeon general urges flu shots to prevent "double whammy" with coronavirus — Massachusetts pauses reopening after uptick in coronavirus cases
  6. World: Africa records over 1 million coronavirus cases — Gates Foundation puts $150 million behind coronavirus vaccine production.

Trump: "We are going a different way" on coronavirus aid

President Trump. Photo: Jim Watsonn/AFP via Getty Images

President Trump tweeted on Friday that his administration is "going a different way" with coronavirus aid after negotiations with congressional Democrats stalled again, suggesting he will use an executive order to address stimulus spending.

What he's saying: "Pelosi and Schumer only interested in Bailout Money for poorly run Democrat cities and states. Nothing to do with China Virus! Want one trillion dollars. No interest. We are going a different way!" Trump tweeted.