Australian Consumer Confidence Builds, Highest Since March

California College Students Talk Pros, Cons of Distance Learning

SAN JOSE, Calif.—Manny Sanchez, a sophomore studying business administration at San Jose State University (SJSU) in California, said he has improved academically with distance learning. “Last year, I would have papers [and] I would leave them to do the last day, but right now I’ve been working on them ahead of time and finishing them early,” Sanchez told The Epoch Times. “There’s more free time. There’s nothing else to do. I can’t go out with friends and stuff, so I’ll just stay home and do homework instead.” Sanchez has been taking advantage of Zoom online office hours with his professors and said he has had no problem communicating with them. But he misses the social aspect of going to class—“You don’t go to a classroom, see classmates, or hang out…

Australians are growing in confidence as the economy starts to recover from the COVID-19 pandemic fallout, a signal household spending may pick up as long as employment grows.

The ANZ-Roy Morgan consumer confidence index grew by a further 1.6 percent to 99.7 points in the past week, the highest level since March.

The index has now risen for eight straight weeks and stands just below the neutral level of 100 which separates pessimists and optimists.

ANZ head of Australian economics David Plank said falling COVID-19 base numbers and hopes of a further easing in restrictions have helped to keep confidence on an upward trend.

He said sub-indices suggest people remain cautious about the current economic outlook.

“This may constrain spending in the near-term,” Plank said on Oct 27.

“Confidence in future economic and financial conditions is much more positive, however, holding out the prospect of a recovery in spending if the labour market holds up.”

Treasury secretary Steven Kennedy appeared before a hearing on Monday, telling senators the recovery from the biggest economic contraction on record is under way.

He believes the Morrison government’s budget response to the pandemic should have a greater impact on the economy in a low interest rate environment.

The hearing comes against the backdrop of speculation the Reserve Bank of Australia could ease interest rates even further as soon as its board meeting on November 3 – a gathering Kennedy will attend.

RBA deputy governor Guy Debelle will appear before a Senate estimates hearing on Tuesday.

Colin Brinsden in Canberra

Focus News: Australian Consumer Confidence Builds, Highest Since March

Stimulus Talks Continue, Slowing Down: White House Adviser

White House economic adviser Larry Kudlow announced Monday that stimulus talks between the Trump administration and House Speaker Nancy Pelosi (D-Calif.) have slowed but are continuing. “We are close but there are still important policy issues that separate us,” Kudlow said in an interview, adding that talks “have certainly slowed down.” Speaking to reporters at the White House, he said Treasury Secretary Steven Mnuchin will obtain reports from the leaders of congressional committees that have been working on a stimulus deal, adding that Mnuchin might speak with Pelosi on Monday. “The talks continue. They will continue today,” Kudlow said. “There are still a number of areas in her plan that the president cannot accept, just can’t accept it,” Kudlow said of the House speaker’s positions on certain items. “I will also…