Federal Reserve interest rate; Straight line; Switzerland, Vietnam

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The Federal Reserve has announced that it will keep its short term interest rate close to zero after the last policy meeting on Wednesday, according to CNN Business.

The Fed cut rates to this level in March – and said it will likely stay there for several years as the economy continues to recover from the COVID-19 disruption. Additionally, the Fed has launched several loan programs and other stimulus efforts this year to support the economy during this time. But Fed Chairman Jerome Powell has pointed out that the Fed – along with Congress and the White House – may need to do more to help struggling Americans, CNN reported.

“Economic activity and employment continued to recover but remain well below their levels at the start of the year,” the Fed said in its press release. “The trajectory of the economy will depend heavily on the evolution of the virus. The ongoing public health crisis will continue to weigh on economic activity, employment and inflation in the near term, and pose significant risks to the medium-term economic outlook. “

Beeline and The Mom Project team up for diversity

Straight line, a global provider of extended workforce solutions, and The Mom Project, a digital talent market / community focused on women and diversity, came together to address diversity in the casual workforce . The Beeline Diverse Talent Cloud offers Beeline clients the opportunity to source from a diverse talent pool populated and managed by The Mom Project.

According to a press release announcing the partnership, The Mom Project was “created to ensure that women can choose to remain active in the workforce at every stage of their lives.” Since its launch in 2016, The Mom Project has grown to become “the premier career destination for women, connecting over 350,000 mothers, fathers and allies with over $ 100 million in economic opportunity.”

Beeline CEO Doug Leeby said the partnership has lasted for over a year.

“Our values ​​are closely aligned with those of The Mom Project and we have enjoyed a strong, results-oriented partnership for over a year,” Leeby said in the press release. “Together, we will help businesses achieve their DE&I goals.”

Spend Matters has been informed by Beeline that The Mom Project is configured in the VMS as a vendor on a customer’s Preferred Vendor List. It is up to the customer to establish their prioritization and routing rules, and diversity-focused customers can make Mom Project a Tier 0 or Tier 1 provider for specific demands. The workers hired are W-2 employees of The Mom Project or one of the other contracted suppliers.

US Treasury Department calls Switzerland, Vietnam currency manipulators

The US Treasury Department has designated Switzerland and Vietnam as currency manipulators Wednesday, saying the two countries had intervened in the foreign exchange markets persistently and unilaterally to limit the appreciation of their currencies, according to the Wall Street Journal.

The Treasury said it determined that at least part of the two countries’ foreign exchange intervention over the past four years was aimed at preventing effective balance of payments adjustments. He also said Vietnam has sought to gain an unfair competitive advantage in international trade through its management of exchange rates, the WSJ reported.

“The Treasury Department has taken an important step today to safeguard economic growth and opportunities for American workers and businesses,” Treasury Secretary Steven Mnuchin said in a statement. “The Treasury will follow its findings regarding Vietnam and Switzerland to work to eliminate practices that create unfair advantages for foreign competitors.”

December’s monthly global Spend Matters newsletter came out this week. Were you on the list? Don’t miss out for 2021!

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