Fed

US lawmakers reach deal on $900 bn stimulus package

Washington (AFP) - US lawmakers agreed on a nearly $900 billion Covid-19 relief package for millions of Americans on Sunday, in a deal that follows months of wrangling and comes as the nation battles the world's largest coronavirus outbreak. The package includes aid for vaccine distribution and logistics, extra jobless benefits of $300 per week, and a new round of $600 stimulus checks -- half the amount provided in checks distributed in March under the CARES Act. Months of partisan debate and finger-pointing, as well as last-minute negotiations, culminated in a deal lawmakers said they hoped t...

US lawmakers reach deal on $900 bn stimulus package

Washington (AFP) - US lawmakers agreed on a nearly $900 billion Covid-19 relief package for millions of Americans on Sunday, in a deal that follows months of wrangling and comes as the nation battles the world's largest outbreak of the virus. The package includes aid for vaccine distribution and logistics, extra jobless benefits of $300 per week, and a new round of $600 stimulus checks -- half the amount provided in checks distributed in March under the CARES Act. It comes after months of partisan debate and finger-pointing as well as last-minute negotiations that culminated in a deal lawmaker...

US Congress reaches deal on Covid-19 relief package

Washington (AFP) - US lawmakers have reached a deal for a new package to boost the world's largest economy, which has been battered by the coronavirus pandemic, congressional leaders announced Sunday. "We've agreed to a package of nearly $900 billion. It is packed with targeted policies to help struggling Americans who have already waited too long," Republican Senate leader Mitch McConnell in a statement. Democratic House Speaker Nancy Pelosi and Senate minority leader Chuck Schumer confirmed an agreement had been reached with Republicans and the White House on a deal that "delivers urgently n...

US Senate blocks Trump's controversial Fed candidate

Washington (AFP) - The US Senate on Tuesday blocked President Donald Trump's controversial pick from joining the Federal Reserve board, at least for now.Two Republicans joined Democrats in opposing Judy Shelton, a strident critic of the central bank who has faced an unprecedented public wave of resistance from dozens of well-known economists and Nobel laureates. Vice President-elect and Senator Kamala Harris returned to Washington to cast the tie-breaking vote, interrupting planning for President-elect Joe Biden's administration.However, Senate Republican leader Mitch McConnell also voted no m...