Why the Best G.D.P. Report Ever Won’t Mean the Economy Has Healed

Government data on Thursday will show a record-setting rebound in economic output. But the numbers are misleading.

#commerce-department, #coronavirus-2019-ncov, #gross-domestic-product, #recession-and-depression, #shutdowns-institutional, #stimulus-economic, #trump-donald-j, #united-states-economy

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Recession’s Silver Lining: American Households Are Doing Better Than Expected

With few avenues for spending and big purchases on hold, many Americans are saving more and paying off debts, helped by loan deferrals and relief aid.

#coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #credit-cards, #credit-scores, #fair-isaac-corporation, #layoffs-and-job-reductions, #personal-finances, #recession-and-depression, #savings, #stimulus-economic, #united-states-economy

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Wall St. Alarm at Surge of Virus Sends Stocks and Oil Lower

Investors get “a reality check about what a renewed round of lockdowns will have on earnings.”

#coronavirus-2019-ncov, #sap-ag, #shutdowns-institutional, #stimulus-economic, #united-states-politics-and-government

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Kodak Loan Debacle Puts a New Agency in the Hot Seat

A stumbling effort to prop up the domestic generic drugs sector underscores the challenges of a Trump administration industrial policy.

#coronavirus-aid-relief-and-economic-security-act-2020, #drugs-pharmaceuticals, #executive-orders-and-memorandums, #factories-and-manufacturing, #insider-trading, #stimulus-economic, #united-states-economy, #united-states-politics-and-government

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As Time Runs Short, Optimism Fades for a Pre-Election Stimulus Deal

Speaker Nancy Pelosi said she was still optimistic about the chances for an agreement, but it would be up to President Trump when it came together. And time is all but up to cement a compromise before Nov. 3.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #mnuchin-steven-t, #pelosi-nancy, #presidential-election-of-2020, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Biden and Trump’s Final Debate: Who Won?

How their last clash looked to Times Opinion writers.

#biden-hunter, #biden-joseph-r-jr, #coronavirus-2019-ncov, #democratic-party, #family-separation-policy-us-immigration, #federal-taxes-us, #minimum-wage, #obama-barack, #presidential-election-of-2020, #republican-party, #senate, #stimulus-economic, #trump-tax-returns, #trump-donald-j

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Trump Casts Doubt on Stimulus Deal as Republicans Resist a Possible Compromise

Even as Nancy Pelosi and Steven Mnuchin continued to narrow their differences, the president said Democrats were holding out for too much, suggesting he was preparing to blame them for the demise of a deal.

#mcconnell-mitch, #meadows-mark-r-1959, #mnuchin-steven-t, #pelosi-nancy, #presidential-election-of-2020, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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McConnell Moves to Head Off Stimulus Deal as Pelosi Reports Progress

The top Senate Republican told colleagues that he had advised the White House against striking a pre-election deal with Democrats to deliver pandemic aid, fearing political repercussions.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #senate, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Stimulus Deal: Pelosi Reports Progress as McConnell is Against Proposal

The top Senate Republican told colleagues that he had advised the White House against striking a pre-election deal with Democrats to deliver pandemic aid, fearing political repercussions.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #senate, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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How Failures of the Obama-Era Stimulus Could Guide a Biden Administration

One crucial lesson: aim big, because there may be only one chance, and an overheating economy is easier to fix than a halting recovery.

#american-recovery-and-reinvestment-act-2009, #biden-joseph-r-jr, #federal-budget-us, #obama-barack, #recession-and-depression, #stimulus-economic, #united-states-economy, #united-states-politics-and-government

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Fearing a ‘Blood Bath,’ Republican Senators Begin to Edge Away From Trump

The statements offer an answer to the question of when Republicans might begin to repudiate the president after years of embracing him: the moment they believed he threatened their own political survival.

#barrett-amy-coney, #coronavirus-aid-relief-and-economic-security-act-2020, #cruz-ted, #elections-senate, #graham-lindsey, #presidential-election-of-2020, #republican-party, #sasse-benjamin-e, #senate, #stimulus-economic, #trump-donald-j, #united-states-politics-and-government

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White House Opposes Expanded Coronavirus Testing, Complicating Stimulus Talks

Some administration officials say testing Americans with no symptoms of the coronavirus would hurt the economy and restrict civil liberties. Democrats and some prominent experts say it would slow the virus and bolster economic growth.

#atlas-scott-w, #birx-deborah-l, #centers-for-disease-control-and-prevention, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #mnuchin-steven-t, #redfield-robert-r, #republican-party, #stimulus-economic, #tests-medical, #trump-donald-j, #united-states-economy, #white-house-coronavirus-outbreak-2020

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U.S. Budget Deficit Hit $3.1 Trillion Amid Virus Spending Surge

A surge in spending, combined with falling tax receipts have sent the deficit soaring, complicating plans for additional stimulus.

#federal-budget-us, #federal-taxes-us, #finances, #mnuchin-steven-t, #stimulus-economic, #unemployment, #united-states-economy, #us-dollar-currency

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Republicans Clash on Stimulus Package as Trump Says ‘Go Big’

The president said he wanted a much larger package than the $1.8 trillion measure under discussion. The top Senate Republican said his party could not accept a deal anywhere near that big.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #house-of-representatives, #law-and-legislation, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #senate, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Unemployment Claims Rise Anew in Latest Sign of Economic Distress

Hopes for a rebound of the American economy have been clouded by layoffs, a surge in virus cases and a lack of fresh federal aid.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #labor-and-jobs, #labor-department-us, #states-us, #stimulus-economic, #unemployment, #unemployment-insurance, #united-states-economy

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Congress and the Pandemic Stimulus: The Political Situation

The economy needs it, and the public wants it. So why can’t Congress and the White House reach a deal on a new stimulus package?

#coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #house-of-representatives, #republican-party, #senate, #stimulus-economic, #united-states-economy, #united-states-politics-and-government

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Mitch McConnell’s Mission of Misery

Why Senate Republicans won’t help Americans in need.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-taxes-us, #infrastructure-public-works, #mcconnell-mitch, #patient-protection-and-affordable-care-act-2010, #presidential-election-of-2020, #senate, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Trump Funnels Record Subsidies to Farmers Ahead of Election Day

Despite an extraordinary government bailout, America’s agriculture sector remains under severe economic pressure.

#agriculture-and-farming, #coronavirus-aid-relief-and-economic-security-act-2020, #crop-controls-and-subsidies, #customs-tariff, #food-aid, #polls-and-public-opinion, #presidential-election-of-2020, #smoking-and-tobacco, #stimulus-economic, #united-states-politics-and-government

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Europe’s Economic Recovery Is a Summer Memory

As the coronavirus resumes spreading rapidly across the continent, hopes for an economic revival have given way to diminished expectations.

#coronavirus-2019-ncov, #credit-and-debt, #euro-currency, #europe, #eurozone, #france, #great-britain, #great-britain-withdrawal-from-eu-brexit, #italy, #labor-and-jobs, #layoffs-and-job-reductions, #politics-and-government, #recession-and-depression, #stimulus-economic, #wages-and-salaries

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Let’s Make a Deal

The nation needs another round of federal aid. President Trump and Congress need to rise to the moment.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Trump Raises Stimulus Offer to $1.8 Trillion

After ending stimulus talks via Twitter on Tuesday, the president reversed course, proposing a plan his own party may reject, and giving Democrats fresh leverage to dictate the terms of a deal.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #mnuchin-steven-t, #pelosi-nancy, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Finding the Right Path in an Up-and-Down Market

Does the latest twist herald the end of a bull run or the beginning of a shift toward long-neglected niches?

#american-express-company, #banking-and-financial-institutions, #blackrock-inc, #chegg-inc, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-reserve-system, #goldman-sachs-group-inc, #inflation-economics, #intercontinental-exchange-inc, #interest-rates, #lazard-llc, #leuthold-group, #medtronic-inc, #nasdaq-composite-index, #netflix-inc, #recession-and-depression, #roku, #standardpoors-500-stock-index, #stimulus-economic, #stocks-and-bonds, #trump-donald-j, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government, #vanguard-group-inc

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Dead, Alive, on Life Support? Confusion Reigns on Stimulus as Talks Continue

Mixed messages from the president and his advisers have muddled an already tumultuous negotiation.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #law-and-legislation, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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New Stimulus Hopes Fade While Economic Risks Grow

President Trump cut off negotiations over a new aid package on Tuesday. Economists of all stripes agree that could be a costly mistake.

#coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #federal-aid-us, #federal-taxes-us, #labor-and-jobs, #layoffs-and-job-reductions, #recession-and-depression, #republican-party, #small-business, #stimulus-economic, #trump-donald-j, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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Wait, Wall Street Is Pro-Biden Now?

Investors are warming to the possibility of a “blue wave” as Joseph R. Biden Jr. rises in the polls and the chances of a contested election diminish.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #democratic-party, #house-of-representatives, #jpmorgan-chasecompany, #powell-jerome-h, #presidential-election-of-2020, #standardpoors-500-stock-index, #stimulus-economic, #stocks-and-bonds, #trump-donald-j, #united-states-economy

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In Scuttling Stimulus Talks, Trump Invites Political Risk for Himself and Republicans

The politics of a bipartisan deal were always tricky, but the president’s abrupt move to upend negotiations removed any ambiguity about who was responsible for the lack of an aid bill.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #elections-senate, #law-and-legislation, #presidential-election-of-2020, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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As Trump’s Diagnosis Spooks G.O.P., Pelosi Projects Optimism on Stimulus Deal

Speaker Nancy Pelosi said the president’s positive coronavirus test could change the dynamic and produce an agreement on additional pandemic relief, but a compromise remained elusive.

#airlines-and-airplanes, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #house-of-representatives, #labor-and-jobs, #layoffs-and-job-reductions, #pelosi-nancy, #republican-party, #stimulus-economic, #trump-coronavirus-positive-result, #trump-donald-j, #unemployment, #united-states-economy, #united-states-politics-and-government

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With Bipartisan Deal Elusive, Democrats Push Through Their Own Stimulus Bill

Lawmakers approved the measure along party lines, even as Speaker Nancy Pelosi said a late-stage agreement with the administration was still possible.

#airlines-and-airplanes, #coronavirus-2019-ncov, #house-of-representatives, #law-and-legislation, #mnuchin-steven-t, #pelosi-nancy, #stimulus-economic, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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The Strong Case for Joe Biden’s Economic Plan

The former vice president’s tax and spending claims are credible; Trump’s aren’t.

#biden-joseph-r-jr, #democratic-party, #federal-budget-us, #federal-taxes-us, #gross-domestic-product, #labor-and-jobs, #presidential-election-of-2020, #republican-party, #stimulus-economic, #trump-donald-j, #united-states-economy

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New Layoffs Add to Worries Over U.S. Economic Slowdown

A standoff over further federal aid and concern over the pandemic’s duration are pushing companies to eliminate jobs.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #labor-and-jobs, #law-and-legislation, #layoffs-and-job-reductions, #recession-and-depression, #stimulus-economic, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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Airlines, Facing a Slow Recovery, Begin Furloughing Thousands

With few people traveling and lawmakers deadlocked on a stimulus package, American Airlines and United Airlines are cutting more than 30,000 jobs.

#airlines-and-airplanes, #american-airlines, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #delta-air-lines-inc, #law-and-legislation, #layoffs-and-job-reductions, #southwest-airlines-company, #stimulus-economic, #travel-and-vacations, #treasury-department, #united-airlines, #united-states, #united-states-economy, #united-states-politics-and-government

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Senate Clears Stopgap Spending Bill to Avoid a Shutdown, Sending It to Trump

The measure provides funding for the government until Dec. 11, delaying the threat of a shutdown until after the general election.

#federal-budget-us, #house-of-representatives, #mnuchin-steven-t, #pelosi-nancy, #presidential-election-of-2020, #senate, #stimulus-economic, #trump-donald-j, #united-states-politics-and-government

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House Unveils New Stimulus Package as Pelosi and Mnuchin Resume Talks

The moves appeared to be the most concrete action toward more economic aid since negotiations stalled nearly two months ago, but the sides remain far apart on price and short on time.

#coronavirus-2019-ncov, #democratic-party, #house-of-representatives, #law-and-legislation, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #stimulus-economic, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Short of Money to Run Elections, Local Authorities Turn to Private Funds

Cities and states face huge bills to deal with voting during the pandemic. Mark Zuckerberg offered $300 million to help — and conservatives are objecting.

#absentee-voting, #chan-priscilla, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #facebook-inc, #federal-state-relations-us, #philanthropy, #presidential-election-of-2020, #stimulus-economic, #trump-donald-j, #united-states-politics-and-government, #zuckerberg-mark-e

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U.S. Risks Repeating 2009 Mistakes as Economic Recovery Slows

In the wake of the last recession, government spending dried up, dragging out the recovery. Policymakers warn against letting it happen again.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #house-of-representatives, #law-and-legislation, #layoffs-and-job-reductions, #recession-and-depression, #senate, #stimulus-economic, #unemployment, #unemployment-insurance, #united-states-economy, #united-states-politics-and-government

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Kara Swisher Interviews Nancy Pelosi on ‘Sway’ Podcast

The most powerful woman in America plans to prevail in November. But what are the limits to her influence? Listen to the premiere of “Sway” with Kara Swisher.

#ginsburg-ruth-bader, #house-of-representatives, #pelosi-nancy, #stimulus-economic, #trump-donald-j, #united-states-politics-and-government

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Fed Forecasts Low Interest Rates for Years, and Until Inflation Picks Up

The Federal Reserve’s latest economic forecasts suggest that interest rates will remain near zero at least through 2023.

#banking-and-financial-institutions, #credit-and-debt, #federal-open-market-committee, #federal-reserve-system, #inflation-economics, #interest-rates, #powell-jerome-h, #stimulus-economic, #united-states-economy

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Fed Pledges Low Rates for Years, and Until Inflation Picks Up

Federal Reserve economic forecasts show that interest rates will remain near zero at least through 2023.

#banking-and-financial-institutions, #credit-and-debt, #federal-open-market-committee, #federal-reserve-system, #inflation-economics, #interest-rates, #powell-jerome-h, #stimulus-economic, #united-states-economy

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How the Fed’s Quick Action May Have Given Congress Cover for Inaction

By doing its job of stabilizing the financial system, it has reduced the sense of urgency for lawmakers to help ordinary Americans.

#coronavirus-aid-relief-and-economic-security-act-2020, #federal-reserve-system, #powell-jerome-h, #stimulus-economic, #united-states-economy

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Europe’s Economic Revival Is Imperiled, Raising the Specter of a Grinding Downturn

As the coronavirus regains force, economists fear that Europe’s tentative recovery is at risk from traditional political concerns.

#coronavirus-2019-ncov, #europe, #european-central-bank, #european-union, #france, #germany, #great-britain, #international-trade-and-world-market, #johnson-boris, #lagarde-christine, #politics-and-government, #recession-and-depression, #stimulus-economic

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How Does the Federal Eviction Moratorium Work? It Depends Where You Live

From state to state, and even judge to judge, a simple-sounding order by the C.D.C. on eviction cases is open to interpretation.

#centers-for-disease-control-and-prevention, #coronavirus-2019-ncov, #courts-and-the-judiciary, #evictions, #landlords, #real-estate-and-housing-residential, #renting-and-leasing-real-estate, #stimulus-economic

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Struggling Hotel Owners, Some With Trump Ties, Seek Federal Bailout

Hotel owners, who spent years loading up on a cheap type of debt, are now faced with the potential for default as the pandemic saps revenues.

#banking-and-financial-institutions, #barrack-thomas-j-jr, #bennett-monty-j, #coronavirus-aid-relief-and-economic-security-act-2020, #mnuchin-steven-t, #stimulus-economic, #treasury-department, #trump-donald-j

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Bill Gates on Coronavirus, Vaccines and Global Health

The Covid-19 pandemic has set back public health efforts by years. But in an interview, the tech philanthropist expressed hope about new avenues for foreign aid

#acquired-immune-deficiency-syndrome, #coronavirus-2019-ncov, #epidemics, #federal-budget-us, #foreign-aid, #gates-bill, #gates-bill-and-melinda-foundation, #humanitarian-aid, #philanthropy, #stimulus-economic, #third-world-and-developing-countries, #trump-donald-j, #united-states-politics-and-government, #vaccination-and-immunization, #world-health-organization, #your-feed-health, #your-feed-science

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Trump’s Payroll Tax ‘Cut’ Fizzles

Big companies say the president’s directive to delay collection of the tax that funds Social Security is more trouble than it is worth. Federal employees are upset they are stuck with it.

#corporate-taxes, #executive-orders-and-memorandums, #federal-taxes-us, #layoffs-and-job-reductions, #payroll-tax, #social-security-us, #stimulus-economic, #tax-cuts-and-jobs-act-2017, #united-states-economy

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Hopes Dim for More Stimulus as Democrats Block Narrow G.O.P. Plan

A show vote in the Senate reflected a continuing partisan divide that appears increasingly likely to scuttle any recovery package to address the toll of the pandemic before the November election.

#democratic-party, #federal-aid-us, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #senate, #stimulus-economic, #trump-donald-j, #united-states-politics-and-government

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Hopes Dim for Second Stimulus as Democrats Block Narrow GOP Plan

A show vote in the Senate reflected a continuing partisan divide that appears increasingly likely to scuttle any recovery package to address the toll of the pandemic before the November election.

#democratic-party, #federal-aid-us, #mcconnell-mitch, #mnuchin-steven-t, #pelosi-nancy, #republican-party, #senate, #stimulus-economic, #trump-donald-j, #united-states-politics-and-government

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Justice Dept. Announces Dozens of Fraud Charges in Small-Business Aid Program

Fifty-seven people were charged with trying to steal more than $175 million from the Paycheck Protection Program, law enforcement officials said.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-aid-us, #frauds-and-swindling, #jpmorgan-chasecompany, #justice-department, #small-business, #small-business-administration, #stimulus-economic, #united-states-politics-and-government

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Surging Euro Presents E.C.B. With a Dilemma

A rising currency is eroding the competitiveness of European exporters. Officially, the central bank isn’t allowed to do anything about it.

#euro-currency, #europe, #european-central-bank, #eurozone, #interest-rates, #international-trade-and-world-market, #lagarde-christine, #stimulus-economic, #us-dollar-currency

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Republicans Push Scaled-Back Stimulus Plan as Impasse on Virus Aid Persists

The economic recovery measure Republicans presented on Tuesday is a fraction of the size of their original offer and was immediately dismissed by Democrats as inadequate.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #democratic-party, #mcconnell-mitch, #republican-party, #senate, #stimulus-economic, #united-states-politics-and-government

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Amtrak Will Furlough Over 2,000 Workers Because of the Coronavirus

The job cuts come as the rail agency’s response to fiscal challenges receives scrutiny from rail advocates and federal lawmakers.

#amtrak, #budgets-and-budgeting, #coronavirus-2019-ncov, #house-of-representatives, #labor-and-jobs, #layoffs-and-job-reductions, #railroads, #stimulus-economic, #transportation, #united-states-politics-and-government

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