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Biden economic advisor pushes back against restricting eligibility for stimulus checks

A White House economic advisor Jared Bernstein argued the stimulus checks are “better targeted” than many people assume. It comes as lawmakers debate restricting the eligibility for stimulus payments to lower-income Americans. Some economists argue that the checks helped shore up finances of people unable to get unemployment insurance. Visit […]
Biden economic advisor pushes back against restricting eligibility for stimulus checks
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A ‘growth bomb’ is brewing in the US with consumers sitting on $2.5 trillion in savings — and it’s poised to give the economy a huge boost, one Wall Street chief strategist says

The US economy could be set for a surge in growth as consumers start to spend the money they saved during the COVID-19 pandemic, according to The Leuthold Group. When the personal-savings rate has been this high in the past, economic growth has surged, according to historical data from Leuthold. […]
A ‘growth bomb’ is brewing in the US with consumers sitting on $2.5 trillion in savings — and it’s poised to give the economy a huge boost, one Wall Street chief strategist says
News

US companies added 365,000 jobs in October, missing economist estimates, ADP says

The US added 365,000 private payrolls in October, according to ADP’s monthly employment report. The reading falls well below the median economist estimate of 643,000 payrolls, according to Bloomberg data. The report precedes the US Bureau of Labour Statistics’ monthly nonfarm payrolls report set for Friday release. Visit Business Insider’s […]
US companies added 365,000 jobs in October, missing economist estimates, ADP says