The financial freeze of COVID-19 is thawing. 2020 was the worst year for the U.S. economy in decades, but as vaccinations have ramped up and government stimulus efforts continue, 2021 has started on strong footing.
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The labor market has a little spring in its step. After a slow start to the year, the economy added 916,000 jobs in March and the unemployment rate dropped to 6 percent from 6.2 percent for the right reasons.
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On March 23, 2020, stocks plummeted to the pandemic bear market bottom. The month of March was agonizing as investors endured a gut-wrenching sell-off.
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The American Rescue Plan is now law, and for all of the benefits of pushing money into the wallets of households and businesses, what could be the downside of the spending?
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On the eve of International Women’s Day, the news is not great for women who have seen more job losses than men since the start of the pandemic.
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The combination of accelerated vaccine distribution + trillions of dollars of emergency federal spending + warm weather + pent-up demand + low interest rates = Roaring Twenties for the U.S. economy.
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President Biden outlined what he hopes will be the first half of an economic stimulus plan. The Biden plan attempts to brighten the dim outlook for the economy in the coming months, or at least until a large portion of Americans are vaccinated.
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As perverse as it may seem, markets can indeed rise amid a sobering week for the nation.
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Nearly nine months after the $2.2 trillion CARES Act became law, the lame duck Congress is poised to pass an additional $900 billion relief bill before adjourning for its winter break.
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