UK Cabinet Office Minister Michael Gove said he had a “constructive meeting” European Commission Vice President Maros Sefcovic, on Brexit. “We both were clear with each other where we were still some distance apart but we were both also clear that we wanted to bridge that gap,” he added. “Maros Sefcovic and I are committed to using every moment available: every second, every minute, every hour, in order to reach agreement and I’m confident that we will.”
But Gove also insisted that the clauses of the Internal Mark Bill “are there, they’re in legislation, supported by the House of Commons, as a safety net, if need be. And those clauses will remain in that bill.”
Sefcovic, on the other hand, said, “the UK’s positions are far apart from what the EU can accept. I have repeated the EU’s request to withdraw the contentious part of the draft Internal Markets Bill by the end of September.” “We maintain that the bill, if adopted in its current form, would constitute an extremely serious violation of … the Withdrawal Agreement and of international law,” he said.
Brexit negotiation will resume in Brussels on Tuesday, lasting until Friday morning. The EU is expecting a deal by the end of October, or early November, to allow time for ratification by the European Parliament and some national parliaments, for the deal to take effect from 2021.
Fed Mester: Still far from our goals for employment and inflation
Cleveland Fed President Loretta Mester said yesterday that economic data showed the the economy is recovery but it’s still a “fragile recovery”. Fed is still “far from both of our goals” for both employment and inflation. She expects unemployment to end the year between 7% and 8%. Inflation could be above 1% but well below the 2% target.
Outlook depends on the course of the coronavirus pandemic. “If things turn out that the virus remains under control and there is a vaccine that is able to be distributed, in the middle of the year, say, then we’ll see the recovery continuing and maybe broadening out a bit,” she said.
Mester also urged actions to promote an inclusive economy, “one in which people have the chance to move themselves and their families out of poverty, one in which systemic racism does not limit opportunities and one in which all people can fully participate — the U.S. economy will not be able to live up to its full potential and the country will suffer.”