Government cash boosted demand when economy was struggling to produce, experts say
before the end of March 2020, as the economy was shutting down and millions of Americans were losing their jobs.
Ultimately, it took more than six years for the United States to recover the jobs that had been lost in the recession. Democrats, who had pushed for a larger package, vowed to pass additional relief after Biden’s inauguration. These signs of fresh economic weakness cemented the political imperative to spend more on coronavirus relief.
Consumers flush with rescue plan cash encountered a market that was millions of cars short. Prices for used cars rose in April by 10 percent, the largest one-month gain since the government began keeping track in 1953, and then jumped by an additional 8 percent in May. Still, White House officials were sensitive to criticism that the stimulus payments were not targeted to those with the greatest need. Married couples with incomes up to $150,000 — or individuals making $75,000 — were generally eligible for the full $1,400 benefit.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
13 charts that show how the economy is performing in Tucson and ArizonaIs our economy doing better or worse? See recent changes in local employment, regional inflation and more in these regularly updated charts and maps.
Consulte Mais informação »
High prices, economic volatility resurface as threat to DemocratsInflation, which Democrats thought was fading as an issue, has reemerged as a significant political threat, prompting an urgent flurry of activity from Biden.
Consulte Mais informação »
Record High Prices Expected for Thanksgiving Turkey as Inflation SoarsConsumers will see record high prices when it comes to holiday turkey due to the bird flu and inflation in President Joe Biden's (D) America.
Consulte Mais informação »
Biden takes victory lap on Inflation Reduction Act's insulin cap, blames Republicans for not backing itPresident Joe Biden blamed Republicans for not supporting the Inflation Reduction Act, specifically the insulin price cap, ahead of November's midterm elections.
Consulte Mais informação »