Page 24 - Us Economy
US jobless claims rise to 719,000 as coronavirus still forces layoffs
The number of Americans applying for unemployment benefits rose by 61,000 last week to 719,000, signalling that many employers are still cutting jobs even as more businesses reopen
 "US jobless claims rise to 719,000 as coronavirus still forces layoffs")
Biden unveils $2 trn package to overhaul American physical infrastructure
US President Joe Biden unveiled a $2 trillion package to upgrade and overhaul American physical infrastructure on Wednesday
 "Biden unveils $2 trn package to overhaul American physical infrastructure")
Explained: What's in Joe Biden's $2.3 trillion infrastructure plan?
The infrastructure plan US President Joe Biden will roll out in Pittsburgh on Wednesday includes $2.3 trillion in investments
 "Explained: What's in Joe Biden's $2.3 trillion infrastructure plan?")
Biden proposes $2 trillion 'once-in-a-generation' investment in US economy
"It's a once-in-a-generation investment in America, unlike anything we've seen or done," Biden said in Pittsburgh
 "Biden proposes $2 trillion 'once-in-a-generation' investment in US economy")
Biden kicks off effort to reshape US economy with infrastructure package
He also aims to put corporate America on the hook for the tab, which is expected to grow to a combined $4 trillion once he rolls out the second part of his economic plan in April
Biden's $2-trn proposal: $174 bn for EVs, new funds for clean power
What Biden lays out Wednesday is just the first part of his long-term economic program, with a second round of initiatives to be announced in mid-April
 "Biden's $2-trn proposal: $174 bn for EVs, new funds for clean power")
S&P 500 hits record high ahead of Joe Biden's spending plan outline
The size and scale of the proposal, as well as the question of how it would be paid for is likely to set the stage for the next partisan clash in Congress.
 "S&P 500 hits record high ahead of Joe Biden's spending plan outline")
'Optimistic' Federal Reserve policymakers see US economy about to boom
Federal Reserve policymakers are optimistic about the US economic outlook as more Americans are vaccinated and government aid gets to households and businesses, and they are not going to stand in way
 "'Optimistic' Federal Reserve policymakers see US economy about to boom")
Sensex, Nifty jump over 2% to record highest increase in 2 months
Sensex leaps 1,128 points to reclaim 50,000, Nifty rises 338 points as it moves near 15,000-mark
 "Sensex, Nifty jump over 2% to record highest increase in 2 months")
Bonds on watch
Inclusion in global indices would demand higher fiscal standards
 "Bonds on watch")
US economy will recover but Covid bruises will last several years: Moody's
Moody's expects US economic activity to return to its pre-coronavirus path by the end of 2021, but an elevated unemployment rate and a lagging recovery in the hardest-hit sectors will leave bruises
 "US economy will recover but Covid bruises will last several years: Moody's")
Rational expectations
Evolving conditions would lead to adjustment in markets
President Biden's economic plan to focus first on infrastructure this week
President Joe Biden will lay out the first part of his multitrillion-dollar economic recovery package this week, focusing on rebuilding roads, bridges and other infrastructure
US weekly jobless claims drop to one-year low in boost to economy
The number of Americans filing new claims for unemployment benefits dropped to a one-year low last week, providing a powerful boost to an economy on the verge of stronger growth
 "US weekly jobless claims drop to one-year low in boost to economy")
US jobless claims fall sharply to 684,000, fewest since pandemic outbreak
That pace is widely expected to accelerate in the coming months, fueled by substantial government rescue aid
 "US jobless claims fall sharply to 684,000, fewest since pandemic outbreak")
Fed's Powell expects inflation to bump up, but not get out of hand
Powell is appearing before the committee along with Treasury Secretary Janet Yellen as part of Congressional oversight of the government's response to the pandemic
 "Fed's Powell expects inflation to bump up, but not get out of hand")
Joe Biden's administration to outline 2022 budget priorities next week
The Biden administration will next week release its proposed discretionary budget for fiscal 2022, providing insight into the president's top priorities and laying down a marker for Congress
 "Joe Biden's administration to outline 2022 budget priorities next week")
Biden administration weighs $4 trillion in fresh economic spending
The price range does not include separate proposals to make child tax credits and other benefits to lower-income Americans
Joe Biden eyes $3 trillion package for infrastructure, schools, families
Fresh off passage of the COVID-19 relief bill, President Joe Biden is assembling the next big White House priority, a sweeping $3 trillion package of investments on infrastructure and domestic needs
 "Joe Biden eyes $3 trillion package for infrastructure, schools, families")
Existing US home sales fell in February, while prices increased
Sales of previously occupied US homes slowed last month
 "Existing US home sales fell in February, while prices increased")
