This Week In The Economy: Another Troubling Spike in US Coronavirus Cases, Worrying Labor Market Outlook, Gradual Recovery In China, Global Central Bank Roundup

Welcome to a regular snapshot-review of U.S. and international economic news that aims to 1) provide a window into the challenges and decisions facing businesses today, 2) determine the direction of economic policy — such as the speed at which central banks decide to raise interest rates, and 3) assess what the impact will be for consumers.

No Slowdown In Sight As Coronavirus Cases Soar In The United States

The number of confirmed COVID-19 cases around the world is now over 13 million and climbing— with 13,810,534 confirmed cases. Of that number, 5,501,923 are active and there have been 590,005 deaths. The United States (sigh…) experienced another significant spike this week, and now has 3,533,905 confirmed cases — with 2,368,731 active and 138,358 fatalities.

So far this week (from July 12–July 16), there have been 316,756 new COVID-19 cases in the United…