economy

Former vice president Joe Biden on Wednesday suggested passing climate-change legislation as part of economic aid packages amid the Wuhan coronavirus pandemic. “We’re going to have an opportunity, I believe, in the next round [of economic aid] here to use…my Green Deal to be able to generate both economic growth as consistent with the kind …

U.S. Representatives Peter Welch (D-VT) and Sean Maloney (D-NY) are seen with members as David A. Holmes, Department of State political counselor for the U.S. Embassy in Kyiv, Ukraine and Fiona Hill, former National Security Council senior director for Europe and Russia appear before the House Intelligence Committee during an impeachment inquiry hearing in Washington, …

Senate leaders and the Trump administration reached a deal in the early hours of Wednesday morning on a $2 trillion emergency stimulus package to blunt the economic impact of the coronavirus pandemic, which continues to spread across the country and has tipped the economy towards recession. “At last we have a deal,” Senate Majority Leader …

Stocks surged on Tuesday as the Dow recorded its largest one-day gain since 1933, driven by expectations of an economic stimulus package from Congress to offset the effects of the Wuhan coronavirus pandemic. The Dow Jones Industrial Average rose 2,112.98 points, over 11 percent, while S&P 500 rose 9.4 percent to 2,447.33. The Nasdaq Composite …

Domestic passenger flights in the U.S. could shut down almost completely, either voluntarily or by government order as the coronavirus pandemic continues to spread across the country, discouraging and disrupting air travel. Major U.S. airlines have begun putting a plan in place for potentially shutting down nearly all domestic passenger flights as anemic ticket sales …

Senator Ben Sasse (R., Neb.) on Capitol Hill in 2018 Senator Ben Sasse (R., Neb.) took aim at House Speaker Nancy Pelosi (D., Calif.) for hijacking Senate negotiations over a phase-three economic relief package with an “ideologically-driven wish list” of Democratic policies unrelated to coronavirus. Pelosi’s 1,404 page bill, introduced Monday after the House Speaker …

Senator Doug Jones on Capitol Hill in Washington, D.C., July 16, 2019. Senator Doug Jones (D., Ala.) on Monday afternoon broke with fellow Democrats to vote in favor of a fast-tracking an economic stimulus bill aimed at offsetting the effects of the Wuhan coronavirus pandemic. Jones had voted against cloture on Sunday, and was the …

President Trump suggested on Twitter that he planned to pivot away from advocating for health measures implemented to slow coronavirus in favor of boosting a struggling economy amid a draconian shutdown. Just before midnight on Sunday, Trump tweeted that “WE CANNOT LET THE CURE BE WORSE THAN THE PROBLEM ITSELF.” WE CANNOT LET THE CURE …

The Federal Reserve announced a number of steps on Monday meant to shore up the US economy during the coronavirus crisis. The central bank said its Federal Open Market Committee will buy Treasury securities and mortgage-backed securities in “the amounts needed to support smooth market functioning” as part of a wide-ranging plan to blunt the …

The American economy is closing down rapidly from both voluntary and mandatory business closings. It is not just restaurants, but also manufacturing, construction, recreation, travel, and many other industries that are shuttering operations. If this continues, there will be a massive plunge in incomes, and tens of millions of people will not be able to meet …