Dive Brief:
With the end of its term looming and after weeks of Senate inaction, the U.S. Congress on Sunday said both houses had agreed to the terms of a second pandemic relief bill totaling some $900 billion.
Among other provisions, the bill would authorize direct payments of up to $600 per adult and child; $300 more in weekly unemployment assistance; $13 billion in added food and child nutrition benefits; more than $284 billion for forgivable paycheck protection loans for businesses; and $4 billion to provide vaccines in poor countries, according to a summary of the bill from House Speaker Nancy Pelosi (D-CA).
In an emailed statement Monday, the Retail Industry Leaders Association hailed the package as an important first step. The National Retail Federation declined to comment until after the final vote, which was expected Monday.
Negotiations over $900billion COVID-19 relief bill have stalled in Congress
Democrats, Republicans stuck in dispute over Federal Reserve s lending powers
GOP wants to restrict Fed s ability to provide emergency loans to businesses
Proposal put forward by Senator Pat Toomey, a Republican from Pennsylvania
Democrats say Republicans want to hamstring incoming Biden administration
Impasse comes after compromise between two sides appeared to be in reach
House Speaker Nancy Pelosi says Fed dispute is only thing holding up a deal
Emerging deal includes $600 stimulus checks and relief to small businesses
Trump tweeted a demand to Congress to get it done
Democrats agreed to a compromise in principle early Sunday with Toomey, potentially paving the way for a Sunday vote
From restaurants to retailers, virus transformed economies – The Manila Times manilatimes.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from manilatimes.net Daily Mail and Mail on Sunday newspapers.
Gold rally pauses as it eyes $1,900, US dollar takes a breather
Last Updated: December 18, 2020
Gold’s strong three-day rally is taking a brief pause today, with the precious metal now eyeing the $1,900 level for the first time since the Pfizer vaccine news hit the market in 9 November.
Comments from Federal Reserve Chairman Jerome Powell on Wednesday have contributed to the latest rally seen by gold, as the head of the central bank said the institution is committed to buy around $120 billion in bonds over the coming months to keep supporting the financial markets as the world recovers from the fallout caused by the pandemic.