By Kelly Anne Smith and Kemberley Washington, Forbes President Joe Biden’s $1.9 trillion American Rescue Plan Act is inching its way toward coming to life. The House released its draft of the bill late last week. As with all major pieces of legislation, however, what ends up in the final
By Anneken Tappe, CNN Business New York (CNN Business) – The US economy fared ever so slightly better in the fourth quarter of 2020 than initially thought. The nation’s gross domestic product grew at an annualized and seasonally adjusted rate of 4.1%, the Commerce Department reported in its second reading of the data
By Tiffany Hudson, Alexa Mencia, Joe Khalil, Haley Townsend, Michael Geheren, Fox 8 WASHINGTON (NewsNation Now) — The House of Representatives will vote Friday on the $1.9 trillion COVID-19 relief bill, advancing a top priority of President Joe Biden. Majority leader Steny Hoyer announced the vote on Twitter. “The American
By Elisabeth Buchwald, Market Watch ‘It’s been bizarre with this recession to see credit scores go up’ If you looked at Americans’ credit scores lately, you might conclude that most people in the U.S. are financially healthy. In fact, you might be led to believe that despite causing an economic
By Annie Nova, CNBC Struggling student loan borrowers who own a business received some welcome news this week: They will no longer be excluded from the Paycheck Protection Program. Any business owned 20% or more by a borrower who had fallen behind on their payments previously could be determined ineligible
By Julia Glum, Money How has your life changed since February 2020? It’s no secret that the nation has been financially devastated by the coronavirus pandemic over the past year. But despite the widespread suffering, many Americans feel their finances are in good shape and will get better over the
By Steve Goldstein, Market Watch Global debt reaches $281 trillion Governments and countries accumulated more debt during the COVID-19 pandemic than they did during the 2008-09 financial crisis, a leading trade group said on Wednesday. The Institute of International Finance said global debt-to-GDP surged by 35 percentage points to over
By Katie Lobosco, CNN Washington (CNN) – President Joe Biden made it clear during Tuesday night’s CNN town hall that he disagrees with other members of his party who want to cancel $50,000 of student debt per borrower. “I will not make that happen,” Biden said after a member of
By Joseph Zeballos-Roig, Business Insider Federal Reserve Chair Jerome Powell said on Wednesday that US unemployment is about 10% — or nearly twice the officially recorded rate. That roughly equal to Great Recession levels more than a decade ago. The Fed chair made the remarks in a speech on strengthening
By Jeff Stein, Washington Post America’s federal debt is set to exceed the size of the entire U.S. economy this year for only the second time since the end of World War II, a reflection of the extraordinary emergency measures approved by Congress in response to the coronavirus pandemic, the
