Mar 04 Anger in Lebanon as currency, prices spiral out of control By Bassem Mroue, Associated Press Protests have broken out in different parts of Lebanon with roads closed by demonstrators who burned tires amid a worsening economic crisis and lack of progress on the formation of a new Cabinet. Continue reading
Mar 04 Chairman Powell says higher inflation is temporary, fed will be 'patient' By Christopher Rugaber, Associated Press Federal Reserve Chair Jerome Powell said Thursday that inflation will likely pick up in the coming months but the increase will be temporary, and won’t be enough for the Fed to alter its low-interest rate policies. Continue reading
Mar 04 CBO expects U.S. federal debt to double over next 30 years By Josh Boak, Associated Press The long-term drivers of managing the debt are rising interest rates and spending on programs such as Social Security and Medicare. Continue reading
Mar 04 U.S. jobless claims tick up to 745,000 as layoffs remain high By Paul Wiseman, Associated Press The number of Americans applying for unemployment benefits edged higher last week to 745,000, a sign that many employers continue to cut jobs despite a drop in confirmed viral infections and evidence that the overall economy is improving. Continue reading
Mar 03 'The system was never created for us.' Business owners of color still struggle to get enough COVID aid By Courtney Vinopal Black and Hispanic business owners said they feel disparities in PPP distribution highlight longstanding systemic inequities in the U.S. that have kept entrepreneurs who are not white from accessing capital. Continue reading
Mar 03 Watch 7:44 Millions of Americans saddled with student debt as debate continues over relief By Paul Solman, Diane Lincoln Estes As Washington debates how to provide economic aid during the pandemic, many say one critical component should be part of future deals: forgiving student debt. But determining how much could or should be forgiven is a complicated question. Paul Solman… Continue watching
Mar 03 Democrats tighten eligibility limits for COVID-19 relief benefits By Alan Fram, Associated Press President Joe Biden and Democrats have agreed to tighten eligibility limits for stimulus checks. This is a concession to party moderates, and it comes as leaders prepare to move their $1.9 trillion COVID-relief bill through the Senate. Continue reading
Mar 03 Employment rose among those in free money experiment, study shows By Adam Beam, Associated Press After getting $500 per month for two years without rules on how to spend it, 125 people in California paid off debt, got full-time jobs and had “statistically significant improvements" in emotional health, according to a study released Wednesday. Continue reading
Mar 03 Senate COVID-19 relief bill won't include transportation projects GOP used to voice opposition By Kevin Freking, Associated Press A spokesperson for Speaker Nancy Pelosi says it's “unclear how Republicans will justify their opposition" to the bill now. Continue reading
Mar 03 Pandemic puts more than one-third of nonprofits in financial jeopardy By Glenn Gamboa, Associated Press More than one-third of U.S. nonprofits are in jeopardy of closing within two years because of the financial harm inflicted by the viral pandemic, according to a study being released Wednesday by the philanthropy research group Candid and the Center… Continue reading