By Lorie Konish, CNBC Rising consumer costs have helped push the latest estimate for next year’s Social Security cost-of-living adjustment to 5.3%. Whether that will actually be the bump retirees see to their monthly checks in 2022 depends a lot on the economy, including whether the Federal Reserve decides to
By Greg Iacurci, CNBC More than 400,000 people are poised to lose unemployment benefits this weekend as eight states withdraw early from pandemic-era programs. Alabama, Idaho, Indiana, Nebraska, New Hampshire, North Dakota, West Virginia and Wyoming are opting out of federal unemployment programs, effective Saturday. They’re among 25 states turning
By Jessica Dickler, CNBC As the economy quickly picks up steam in the wake of the Covid pandemic, Americans expect inflation to jump in the months ahead. Overall, the expectation is that the inflation rate will be up to 4% one year from now — a new high for one-year-ahead
By Rachel Siegel, Washington Post Federal Reserve Chair Jerome H. Powell on Wednesday said that more widespread access to vaccines and “strong policy support” are helping economic activity and employment, with sectors hardest hit by the pandemic showing signs of improvement. Inflation is also rising in certain areas, but Powell
By Jeff Cox, CNBC The setting for 2021 seems clear: A powerful growth trajectory fueled by an influx of government spending as the U.S. recovers from the Covid-19 crisis and heads into the fastest economic acceleration in nearly 40 years. But after that, then what? The path beyond this rocket-fueled
By Zachary Warmbrodt, Politico Washington’s nearly $1 trillion small business rescue, now under the watch of President Joe Biden, is about to slam into a new obstacle — it’s already running out of money. The Small Business Administration is warning lawmakers that funds for the Paycheck Protection Program, which offers
By Charles Riley, CNN Business London (CNN Business) – President Joe Biden’s $1.9 trillion stimulus package will boost the US economy and drive faster global growth this year, the International Monetary Fund said Tuesday, though it warned that many countries continue to suffer from the pandemic and are at risk
By Lorie Konish, CNBC As vaccines ramp up and the economy reopens, many individuals and families may be eager to see this side effect of the Covid-19 pandemic continue: government stimulus checks. A recent poll from Data for Progress found 65% of Americans are in favor of payments of $2,000
By Olivia Rockeman and Reade Pickert, Bloomberg President Biden’s $1.9 trillion economic stimulus package will send billions of dollars to America’s jobless. It’s also a potential bonanza for scammers. Throughout the Covid crisis, unemployment programs have served as a lifeline, channeling more than $650 billion over the past year to
By Reade Pickert and Olivia Rockeman, Washington Post The velocity of the U.S. economy’s post-pandemic rebound hinges on more than just an increasingly capable consumer, and business spending appears poised to deliver its own boost. Economic growth balances on a combination of factors, notably consumer spending, housing demand, government outlays
