(Reuters) â The governors of Missouri and Tennessee are joining five other Republican-led states in ending all federally funded pandemic-related unemployment benefits this summer, saying the extra money is keeping those out of work from rejoining the labor force and making it hard for employers to fill jobs.
Mike Parson While these benefits provided supplementary financial assistance during the height of Covid-19, they were intended to be temporary, and their continuation has instead worsened the workforce issues we are facing, Missouri Gov. Mike Parson said in announcing the decision on Tuesday.
It s a contention widely shared by businesses and was behind the U.S. Chamber of Commerce s call Friday to end the aid nationally after a government report showed employers hired only 266,000 in April, about a quarter of what had been expected.
In an interview on CNBC s Closing Bell, the central bank official said fiscal and monetary policy help as well as aggressive vaccination efforts have helped keep growth going since the Covid-19 pandemic began in March 2020.
But he added that even with rising inflation ahead, the Fed should stay accommodative in its policy stance until there are clearer signs that the virus no longer poses as major a threat. That includes keeping short-term borrowing rates anchored near zero and continuing to buy at least $120 billion a month even as markets wonder when the Fed will start pulling back on those purchases.
In an interview on CNBC s Closing Bell, the central bank official said fiscal and monetary policy help as well as aggressive vaccination efforts have helped keep growth going since the Covid-19 pandemic began in March 2020.
But he added that even with rising inflation ahead, the Fed should stay accommodative in its policy stance until there are clearer signs that the virus no longer poses as major a threat. That includes keeping short-term borrowing rates anchored near zero and continuing to buy at least $120 billion a month even as markets wonder when the Fed will start pulling back on those purchases.
In an interview on CNBC s Closing Bell, the central bank official said fiscal and monetary policy help as well as aggressive vaccination efforts have helped keep growth going since the Covid-19 pandemic began in March 2020.
But he added that even with rising inflation ahead, the Fed should stay accommodative in its policy stance until there are clearer signs that the virus no longer poses as major a threat. That includes keeping short-term borrowing rates anchored near zero and continuing to buy at least $120 billion a month even as markets wonder when the Fed will start pulling back on those purchases.
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