"It's going to be complicated and messy" for the economy to get back on track after the yearlong pandemic, Jason Furman told Insider.
Democrats and Republicans drew opposite conclusions from April's jobs report and about the way forward in healing an economy battered by the pandemic.
The business group claims the government is "paying people not to work," but many economists dispute this claim, pointing to some jobs gains.
Hedge funds have largely fronted this year's bond-market rout, with investors in the Caymans the biggest net sellers, Bloomberg reported.
IRS chief Charles Rettig said parents will be able to sign up for direct payments in the next few months as Democrats implement Biden's stimulus.
On rent relief, President Biden is racing against the US legal system. He needs to get aid out before courts rule pandemic-era eviction bans illegal.
The IMF used to be criticized for backing the interests of wealthy, developed countries and their major corporations, but now it's saying pay up.
Roughly 25 million direct payments went out in the latest batch, the IRS said, amounting to $372 billion. It's just 77 days into Biden's presidency.
Using the IRS to send stimulus payments glossed over roughly 12 million Americans with incomes below the tax-filing threshold, Fed researchers said.
President Joe Biden's infrastructure plan would wire up every corner of the nation with access to broadband for internet and EV charging stations.
The two-part package could total $4 trillion, in what President Joe Biden called a "once-in-a-generation investment in America."
Biden's $4 trillion infrastructure package is split up into two legislative pieces, but the Progressive Caucus thinks one big proposal is better.
Joe Biden is announcing the first part of his infrastructure package today. Here's how it will spend $2 trillion on roads, bridges, and much more.
The $2 trillion infrastructure plan would give rebates and tax incentives to US consumers that buy American-made EVs.
The Washington Post reports that the package, set to be announced tomorrow, will have funding for everything from roads to broadband.
"We've never done this," professor Leonard Burman said of Biden's spending, saying that FDR's New Deal spending was "way too small" for that crisis.
"This is just incredibly different," says Heidi Shierholz, an Obama DOL veteran. Other staffers from the last Democratic administration agree.
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