Buch über den Börsencrash von 1929 zeigt Parallelen zum heutigen Markt auf – vier Beispiele, wie sich Geschichte wiederholen könnte msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
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Some experts fear households will quickly spend their savings and fuel runaway inflation.
Studies suggest most will hold onto the cash even after the US reopens, Fed researchers said.
Gradual reopening and widespread vaccination have economists wondering how Americans will spend in a post-pandemic economy. Researchers at the Federal Reserve Bank of New York see little cause for concern.
Americans enjoyed a savings surge during the pandemic as government stimulus hit households and lockdown measures cut down on spending. Estimates suggest people held on to roughly $1.6 trillion in savings since last March, when the health crisis first slammed the economy.
Schumer pushes Biden to cancel $50,000 in student loan debt
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In this March 10, 2021, file photo House Speaker Nancy Pelosi of Calif., and Senate Majority Leader Chuck Schumer of N.Y., pose after signing the $1.9 trillion COVID-19 relief bill during an enrollment ceremony on Capitol Hill in Washington. (AP Photo/Alex Brandon, File)Alex Brandon/AP
WASHINGTON After the American Rescue Plan waived taxes on cancelled student loan debt, Senate Majority Leader Charles E. Schumer, D-N.Y., said Monday there s no reason President Joe Biden shouldn t immediately erase $50,000 in student loans for each borrower.
The American Rescue Plan, signed into law last week, makes all student loan forgiveness tax-free until 2025, including private and institutional loans. The move helps current borrowers who receive loan forgiveness during this period and sets the stage for Biden to wipe away thousands of dollars in student debt.