Why Biden’s economic team would rather go “too big” on COVID relief – Marketplace

Why Biden’s economic team would rather go “too big” on COVID relief – Marketplace

“The problem is that if you happen to do too little, that signifies that individuals are going to go hungry,” Bharat Ramamurti, deputy director of the Nationwide Financial Council, informed “Market” at present. We acquired him on the cellphone after President Joe Biden and Treasury Secretary Janet Yellen met with prime enterprise executives to get assist for Biden’s $1.9 trillion COVID-19 aid invoice. Additionally on at present’s present: How the tip of slavery led to 2 totally different minimal wages, a brand new examine…

Economic recovery: one step forward, several steps back – Marketplace

Economic recovery: one step forward, several steps back – Marketplace

In constructive financial information, President-elect Joe Biden introduced his “American Rescue Plan” Thursday — a $1.9 trillion proposal to stabilize the economic system and get COVID-19 beneath management. However pandemic unemployment continues to be a story of two economies. The unemployment charge among the many highest-paid staff is round 5%, whereas the speed amongst low-wage workers is as excessive as 20%. Sustained unemployment may result in elevated homelessness, with one examine predicting homelessness may very well be twice as excessive because it was after…

Even with more aid, there’s a long economic road ahead – Marketplace

Even with more aid, there’s a long economic road ahead – Marketplace

Congress is reportedly nearing a deal on the second spherical of COVID-19 reduction, eight months after the primary and solely pandemic-aid package deal. However even with almost a trillion {dollars} in support, we’re a protracted, sluggish financial restoration forward. On at this time’s present: If we make the identical errors we did after the Nice Recession, we’re in for companies shuttering, excessive and long-term unemployment, and low-income Individuals in dire straits. Plus, folks received’t be donning sequined attire this vacation season, and what Dippin’…

Biden’s economic think tank – Marketplace

Biden’s economic think tank – Marketplace

President-elect Joe Biden’s group Monday launched the names of three individuals who shall be on his Council of Financial Advisers. Cecilia Rouse, a dean at Princeton, has been tapped to guide the council. If confirmed by the Senate, she’ll be the primary Black girl to ever chair the CEA. On at present’s present: a take a look at how Biden’s financial group is coming collectively. Plus, a Wall Avenue knowledge merger, a take a look at COVID-19 in meals deserts and what’s up with…

The economic EGOT? – Marketplace

The economic EGOT? – Marketplace

TFC: The Treasury, the Fed and the Council of Financial Advisers. Janet Yellen is the primary to seize this financial model of the EGOT as President-elect Joe Biden reportedly tapped the previous Federal Reserve chair to steer the Treasury Division. Yellen, who was the primary lady to steer the Fed, could be the primary lady to function Treasury secretary. On at this time’s present: We check out what Yellen’s appointment means for the shaky U.S. financial system. Plus, round 1 in 5 U.S. hospitals…