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“An average single white man under the age of 35 is 224 times as wealthy as the average single Black woman the same age, according to a new report from the Brookings Institution’s Hamilton Project. The report also found that going into the pandemic recession, Black households held 4% of household wealth in America even though they’re a little over 13% of the population. White households — 60% of the population — held 84% of household wealth…Kristen Broady at the Brookings Institution’s Hamilton Project has been looking at household wealth by race and how disparities make families more resilient or precarious in this pandemic. She said white households inherit more, more often.”

“In fact, the existing Black-white wealth gap has left Black Americans more vulnerable in the pandemic-induced economic downturn, argued a new analysis published Tuesday by the center-left Brookings Institution’s Hamilton Project. Wealth ‘provides a critical safety net to households during economic downturns,’ the authors wrote.”

“The latest jobs report released by the Department of Labor Friday estimates the economy has not yet replaced about 10 million jobs lost last spring, with many Americans now close to losing their unemployment benefits. Wendy Edelberg, director of the Hamilton Project and a former chief economist for the Congressional Budget Office, joins Amna Nawaz to discuss the country's economic outlook.”

“Since the spring, there has been a ‘disproportionately large effect on the leisure and hospitality sector,’ said Wendy Edelberg, the director of The Hamilton Project at the Brookings Institution and former chief economist at the Congressional Budget Office.”

“‘If households are in financial catastrophe, then we have a moral obligation as a country to help households regardless of what their spending or not spending does to the aggregate economy,’ said Wendy Edelberg, director of the Hamilton Project, an economic policy arm of the Brookings Institution.”

“Wendy Edelberg of the Hamilton Project calculates that if nothing passes, the U.S. economy will be $1 trillion smaller in 2021 and $500 billion smaller in 2022. The means to prevent this suffering are also glaringly obvious. We did it less than a year ago with the CARES Act. All we have to do is pass a version of what we did before. How hard can this possibly be?”

“The number of workers who said their layoff was permanent, rather than temporary, rose to 3.7 million in October from 1.3 million in February. Such permanent job losers are more likely to drop out of the labor force than those on temporary layoff, wrote Stephanie Aaronson and Wendy Edelberg, economists at the Brookings Institution, in a recent analysis.”

“’While many schools and districts are expending a lot of resources to provide these meals, take-up rates are much lower than the eligible population, and, in fact, much lower than they would be if schools were open all the time,’ [Lauren Bauer, Hamilton Project Fellow] said.”

“According to recent research by [The Hamilton Project] at The Brookings Institution, […] low-income families with children have been disproportionately impacted by the coronavirus pandemic. ‘A typical feature of recessions is that those who had fewer means before the downturn suffer more during downturns and for longer,’ writes Lauren Bauer.”

“’She cared about labor markets and economic pain when she was at the Fed,’ said Wendy Edelberg, former chief economist at the 'Congressional Budget Office. ‘Those priorities are just what we need right now.’”

"New research from the Hamilton Project of the Brookings Institution finds that in the month of October, nearly one in ten parents with children ages 5 and younger said their families did not have enough to eat and that they did not have enough money to buy food. That figure is a slight improvement over the summer, reports Brookings economics studies fellow Lauren Bauer. But there isn’t much reason to celebrate.”

“Graduates with bachelor’s degrees still generally make more than people with lesser credentials — about $19,000 a year more than associate degree recipients when they’re at the peak of their respective careers, according to the Hamilton Project.”

“More than 400,000 small businesses have closed since the start of the pandemic and many thousands more are at risk, according to the Brookings Institution–affiliated Hamilton Project.”

“‘Small landlords are more likely to have that rental payment affect their own personal or household budget. Larger corporations that own multiple units can cover the costs of keeping units vacant. So small landlords are more likely to hold on to tenants that they have and work with them,’ says Kristen Broady, policy director for the Hamilton Project at the Brookings Institution and an economist who studies housing.”

“According to the Hamilton Project, the pandemic is causing 1 in 3 families with kids to experience food insecurity. That’s double the rate since 2018 and at a higher proportion than at the peak of the Great Recession.”

“In a recent [Hamilton Project] policy proposal, we argue that there currently is little credible evidence to support strengthening or weakening patent protection, such as by modifying patent-eligibility standards.”

“Peter Orszag, CEO of financial advisory at Lazard says the lack of a new fiscal stimulus bill to boost the economy makes a difficult situation worse. He joins ‘Closing Bell’ to talk about the economic damage short- and long-term.”

“‘I was encouraged to hear President-elect Biden stress getting the transmission of the virus under control,’ said Wendy Edelberg, director of the Hamilton Project at the Brookings Institution […] Edelberg said it was notable that he used the phrase ‘like the HEROES Act,’ indicating that Biden acknowledged the need to negotiate — and, likely, to compromise — further. ‘I'm not sure that every provision in it is exactly what the economy needs, but it's an excellent starting point for a negotiation,’ she said.”

“The benefits cliff could ‘leave the economy as a whole, but particularly those who have lost their jobs and haven’t been able to land something new yet in a very vulnerable position,’ said Lauren Bauer, a fellow [at The Hamilton Project and] in economic studies at the Brookings Institution.”

“According to the Hamilton Project, an economic policy initiative, youth tends to work against people in a recession. For example, during the Great Recession, the Bureau of Labor Statistics reported that the national unemployment rate among those 16 and older doubled from 5% to 10%, peaking in October 2009 despite the recession’s official end.”

“‘I had really not appreciated how much economic activity we would keep doing in the face of a pandemic,’ said Wendy Edelberg, director of the Hamilton Project, an economic policy arm of the Brookings Institution. ‘It could well be that the economy can continue to muddle along despite a surge in the virus this winter.’”

“We have more than 10 million people who are not employed now, who were employed before the pandemic. We have small business revenue down 25 percent. We have consumer spending down more than 6 percent. There is urgent need for policymakers to do something and I think most of them see it.”

“Lauren Bauer, a fellow of [The Hamilton Project and] economic studies at the Brookings Institution, said that may be in part because the metric that ‘turned off’ Extended Benefits in Wisconsin doesn't count the number of people on new pandemic unemployment programs, like PUA and PEUC — so that metric doesn't reflect the full scope of people receiving unemployment assistance currently.”

“In late October, ‘Marketplace’ host Kai Ryssdal spoke with Wendy Edelberg, director of the Hamilton Project and a senior fellow at the Brookings Institution, about how the election might affect the economy. Now that a winner has been declared, Ryssdal spoke with Edelberg again about what might come next for this economy.”