Government, Business

Yellen Says Aid to Jobless, Small Firms ‘Biggest Bang’ for Buck

Janet Yellen, Joe Biden's nomination for Treasury Secretary, arrives for a news conference in Delaware in December 2020. (AP) Janet Yellen, Joe Biden's nomination for Treasury secretary, arrives for a news conference in Delaware in December 2020. (Andrew Harnik/Associated Press)

Janet Yellen told lawmakers Jan. 19 that help for the unemployed and small businesses would provide the “biggest bang for the buck” as she made the case for President-elect Joe Biden’s $1.9 trillion COVID-19 relief plan.

Saleha Mohsin | Bloomberg News
January 19, 2021
Government, Business

Consumer Sentiment Posts Moderate Pullback in January

Shoppers walk through the Queens Center shopping mall in New York in September 2020. Shoppers walk through the Queens Center shopping mall in New York in September 2020. (Peter Foley/Bloomberg News)

U.S. consumer sentiment cooled more than forecast in January, adding to signs consumers may be growing less optimistic as vaccinations roll out amid soaring new infections.

Julia Fanzeres | Bloomberg News
January 15, 2021
Government, Business

Manufacturing Output Rose More Than Forecast in December

An assembly line for parts to be installed into ultra low temperature freezers is seen in Ohio in December 2020. An assembly line for parts to be installed into ultra low temperature freezers is seen in Ohio in December 2020. (Ty Wright/Bloomberg News)

Production at U.S. manufacturers increased in December by more than projected, marking an eighth straight month of gains as steady yet more moderate demand growth and lean inventories continue to power the sector’s recovery.

Reade Pickert | Bloomberg News
January 15, 2021
Government, Business

Biden to Unveil $1.9 Trillion COVID-19 Package in Political Test

President-elect Joe Biden is set to speak about his economic plan at 7:15 p.m. on Jan. 14. President-elect Joe Biden is set to speak about his economic plan at 7:15 p.m. on Jan. 14. (Jim Watson/AFP/Getty Images)

President-elect Joe Biden on Jan. 14 will unveil a $1.9 trillion COVID-19 relief package, according to two people familiar with the matter, setting up his first legislative test in the face of a split U.S. Senate and a deteriorating economy.

Nancy Cook and Billy House | Bloomberg News
January 14, 2021
Government, Business

US Jobless Claims Jump by Most Since March, Approach 1 Million

A contractor frames a house under construction in Utah in December 2020. (George Frey/Bloomberg News) A contractor frames a house under construction in Utah in December 2020. (George Frey/Bloomberg News)

Applications for U.S. state unemployment benefits surged last week by the most since late March, pointing to persistent labor market pain as coronavirus infections continue to soar and potentially adding to momentum for a larger federal stimulus plan.

Olivia Rockeman | Bloomberg News
January 14, 2021
Business, Fuel

US Diesel Stockpiles Swell as Global Fuel Demand Falters

A tanker truck sits parked at a diesel fuel pump in Princeton, Ill., in April 2020. A tanker truck sits parked at a diesel fuel pump in Princeton, Ill., in April 2020. (Daniel Acker/Bloomberg News)

The world’s appetite for U.S. diesel is falling, leaving stockpiles of the fuel at their highest level since early October.

Jeffrey Bair | Bloomberg News
January 13, 2021
Government, Business

Schumer Asks Biden to Push for More Than $1.3 Trillion Stimulus

Senate Minority Leader Chuck Schumer speaks during a news conference at the Capitol on Jan. 6. Senate Minority Leader Chuck Schumer speaks during a news conference at the Capitol on Jan. 6. (Ting Shen/Bloomberg News)

Incoming Senate Majority Leader Chuck Schumer has pressed President-elect Joe Biden to propose more than $1.3 trillion in spending for his initial round of COVID-19 relief, according to a person familiar with the matter.

January 13, 2021
Government, Business, Safety

COVID-19 Vaccine Key to Restoring Economic Stability, Experts Say

Colorado Gov. Jared Polis signs for FedEx vaccine delivery Colorado Gov. Jared Polis signs for delivery of the state's first shipment of Pfizer's COVID-19 vaccine Dec. 14, 2020. An estimated 36% of the 27.7 million doses distributed in the U.S. have been administered. (David Zalubowski/Associated Press)

The incoming Biden administration faces a U.S. economy that appears to be slowing as COVID-19 cases surge.

Dan Ronan | Associate News Editor
January 13, 2021
Government, Business, Fuel

Saudis Curb Oil Supply to Some Buyers After Vow to Pump Less

The Gemini Star oil tanker, owned by a subsidiary of Saudi Aramco, is seen with a tug boat. The Gemini Star oil tanker, owned by a subsidiary of Saudi Aramco, is seen with a tug boat. (Dana Smillie/Bloomberg News)

Saudi Arabia reduced crude oil supplies to at least 11 refiners in Asia and most buyers in Europe after the kingdom volunteered to cut its production by 1 million barrels a day for February and March.

January 13, 2021
Government, Business

US Core Consumer-Price Gauge Cools Slightly From Prior Month

Shoppers walk through the Easton Town Center Mall in Columbus, Ohio. (Luke Sharrett/Bloomberg News) Shoppers walk through the Easton Town Center Mall in Columbus, Ohio. (Luke Sharrett/Bloomberg News)

A key measure of prices paid by U.S. consumers cooled in December from a month earlier as slack in the labor market and muted demand helped keep inflation pressures tame.

Reade Pickert | Bloomberg News
January 13, 2021

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