Officials say the economic package could pump $2tn into the US economy which would provide paychecks and funds to hospitalsNegotiators from Congress and the White House resumed top-level talks Saturday on a ballooning $1tn-plus economic rescue package, urged by Donald Trump to strike a deal to steady a nation thoroughly upended by the coronavirus pandemic.It was an extraordinary moment in Washington: Congress undertaking the most ambitious federal effort yet to shore up households and the US economy and a president angry and lashing out at all comers. All while the global outbreak and the nationwide shutdown grip an anxious, isolated population bracing for a healthcare crisis and looming recession. Continue reading...
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Large sectors of the economy are adapting to the pandemic better than originally expected, and December’s...Large sectors of the economy are adapting to the pandemic better than originally expected, and December’s economic aid package helped to increase growth, adding another twist to stimulus talks.
VideoDuring testimony before Congress, the Federal Reserve Chair, Jerome H. Powell, and Treasury Secretary Steven Mnuchin...VideoDuring testimony before Congress, the Federal Reserve Chair, Jerome H. Powell, and Treasury Secretary Steven Mnuchin portrayed the economy as rebounding from the pandemic-induced recession.CreditCredit...Pool photo by Joshua RobertsTreasury Secretary Steven Mnuchin offered an upbeat view of the economic recover...
Dow dives 600 points even after new Fed stimulus, as traders await Senate resolution on coronavirus bill
Major US stock indexes slid on Monday, even after the Federal Reserve announced plans to further...Major US stock indexes slid on Monday, even after the Federal Reserve announced plans to further support economic activity amid the growing coronavirus threat. The central bank's new programs include unlimited bond purchases and facilities to keep consumers and small businesses afloat as the coronavirus pandemic drastically slows spending activity. Traders remained uncertain following the Senate's failure to pass a fiscal stimulus package over...