What Will Bidenâs Covid-19 Stimulus Plan Look Like?
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President-elect Joe Biden says he plans to detail Thursday the first major legislation of his incoming administration: a massive new stimulus and relief package meant to address the continuing economic fallout from the Covid-19 pandemic.
Mr. Biden has called the $900 billion relief plan Congress passed three weeks ago a mere âdown paymentâ on what is needed. Hereâs what we know about the new administrationâs emerging plan:
How big?
âIt will be in the trillions of dollars,â Mr. Biden said Friday, arguing that more spending sooner will reduce the long-term economic damage from the shutdowns. Earlier that day, the Labor Department announced said that job creation had stalled in December and that the U.S. economy lost more than nine million jobs in 2020, the worst labor-market performance in records dating to 1939. The first broad pandemic relief plan, enacted by Congress i
President Donald J. Trump made history on Wednesday by becoming the first sitting president to be impeached twice. The vote saw 10 Republican members of
Jan. 12, 2021
Credit.Illustration by The New York Times; photographs by Jason Andrew, Al Drago and Stefani Reynolds for The New York Times
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On Monday, the House of Representatives introduced an article of impeachment against President Trump for “incitement of insurrection” in response to the attack on the Capitol last week. If, as is expected as early as Wednesday, the House votes to adopt the article, along with any others being considered, it would be the first time that a president has been impeached twice.
Dow ends lower, but near record levels amid historic impeachment vote in Washington MarketWatch 1/13/2021
MARKET SNAPSHOT
U.S. stocks mostly booked modest gains Wednesday, amid a historic House vote on impeaching President Donald Trump, one week before he is set to leave office.
Stocks struggled for direction Tuesday, flipping between modest gains and losses before finishing to the upside, allowing the Dow, S&P 500 and Nasdaq Composite to avoid their first back-to-back losses of 2021.
Stocks mostly closed marginally higher Wednesday as investors monitored efforts in Washington to impeach President Trump for the second time. Peter Andersen, founder of Andersen Capital, thinks political considerations are weighing on the market much more than many investors may realize.
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NEW YORK/LONDON (Reuters) - A rally in U.S. yields is clouding the outlook for one of the market’s most popular trades: betting against the dollar.
FILE PHOTO: A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. REUTERS/Yuriko Nakao/File Photo/File Photo
The U.S. currency is up more than 1% from its recent lows, shadowing a move that has taken the benchmark 10-year Treasury yield to its highest level since March on expectations that a Democratic-controlled Congress will dish out more stimulus in 2021 as vaccines roll back the coronavirus pandemic.