“People are fed up with this,” said Senator Rick Scott of Florida, who heads the campaign arm for Senate Republicans leading into the 2022 elections.Those attacks do not seem to carry the same sway that they did during Mr. Obama’s tenure, when the White House proposed a much smaller economic stimulus package than many economists thought was warranted given the huge erosion in … [...] about Biden, Calling for Big Government, Bets on a Nation Tested by Crisis
United States Economy
The Federal Reserve is expected to keep its monetary policy in crisis mode when it concludes its latest meeting on Wednesday, even as the economy improves.The question now is how long it will take for the recovery to progress enough to inspire the central bank to change course.The Fed has held interest rates near zero since March 2020, and is buying bonds at a pace of about … [...] about The Fed’s patient approach could be tested soon.
When Jerome H. Powell, the Federal Reserve chair, speaks to reporters in a webcast news conference on Wednesday afternoon, he’s likely to face questions about a simmering topic: inflation.Prices are expected to pop in the coming months, both as inflation indexes lap very weak 2020 readings and as supply chains experience short-term reopening bottlenecks. The unknowns facing the … [...] about How the Federal Reserve Gauges Inflation
By contrast, “right now what seems to be happening is that job creation is outpacing the search effort that workers are putting forth,” said Professor Marinescu, an economist at the University of Pennsylvania. “Compared to how people reacted last spring, it’s not that long ago, but the situation has changed a bit.”That is to say, a similar decline in workers’ desire to pursue … [...] about Unemployment Is High. Why Are Businesses Struggling to Hire?
Retail sales surged in March, the Commerce Department said on Thursday, as Americans spent their latest round of government stimulus checks and the continued roll out of coronavirus vaccines lured more people back into stores.The 9.8 percent increase last month was a strong comeback from the nearly 3 percent drop in February, when previous stimulus money had dissipated and a … [...] about Retail spending rose nearly 10 percent in March as relief payments hit bank accounts.