08Feb/21

Fed stresses its commitment to low rates as economy stumbles

first_imgWASHINGTON (AP) — The Federal Reserve pledged on Wednesday to keep its low interest rate policies in place even well after the economy has sustained a recovery from the viral pandemic. The Fed said in a Thastatement after its latest policy meeting that the improvement in the economy and job market has slowed in recent months, particularly in industries affected by the raging pandemic. Fed officials kept their benchmark short-term rate pegged near zero and said they would keep buying Treasury and mortgage bonds to restrain longer-term borrowing rates and support the economylast_img read more

08Feb/21

Biden team pitches US on big virus aid as Senate starts work

first_imgWASHINGTON (AP) — Senators launched an all-night vote session laying groundwork on President Joe Biden’s coronavirus relief package, as the White House is increasingly focused on selling the plan directly to voters. Biden’s administration has done 60-plus interviews with national TV and radio shows. There have been spots on local TV news and briefings last week with more than 50 groups. One of the main goals is to stop people from getting bogged down in the tangle of partisan deal-making and convince them that every penny of the $1.9 trillion package is needed. Senators are voting on a budget resolution to set the contours of the final bill. One provision seeks to limit which Americans will qualify for $1,400 direct payments.last_img read more