Latest Economic stimulus News

Editorial Roundup: New England

Aug. 14, 2020 10:10 AM EDT

Recent editorials of regional and national interest from New England’s newspapers: CONNECTICUT UConn made right move to cancel football season The Connecticut Post Aug. 11 It wasn’t going to be easy for the University of Connecticut football team to have a season this year under any circumstances....

FILE - In this July 16, 2019, file photo an American flag flies on the Capitol Dome in Washington. The U.S. budget deficit climbed to $2.81 trillion in the first 10 months of the budget year, exceeding any on record, the Treasury Department said Wednesday, Aug. 12, 2020. (AP Photo/Carolyn Kaster, File)

US budget deficit climbs to record $2.81 trillion

Aug. 12, 2020 5:24 PM EDT

SILVER SPRING, Md. (AP) — The U.S. budget deficit climbed to $2.81 trillion in the first 10 months of the budget year, exceeding any on record, the Treasury Department said Wednesday. The nation's budgetary shortfall is expected to eventually reach levels for the fiscal year that ends Sept. 30 more than...

FILE - In this Aug. 3, 2020, file photo, a woman wearing a face mask walks by an electronic stock board of a securities firm in Tokyo.  Shares advanced in Asia on Tuesday, Aug. 11, extending another rally that took the S&P 500 to within striking distance of its all-time high set in February. (AP Photo/Koji Sasahara, File)

Asian shares extend rally; S&P 500 within 1% of record

Aug. 10, 2020 11:00 PM EDT

Shares advanced in Asia on Tuesday, extending another rally that took the S&P 500 to within striking distance of its all-time high set in February. Japan’s Nikkei 225 added 1.6% and Hong Kong gained more than 2% in early trading, even as the tally of confirmed new coronavirus cases worldwide topped 20...

FILE - People pass the New York Stock Exchange, Thursday, July 30, 2020.  Wall Street is stalling on Friday, Aug. 7 as a whirlwind of worries about rising U.S-China tensions and whether Congress can deliver more aid for the economy threaten to halt its big run.(AP Photo/Mark Lennihan)

S&P 500 ekes out 6th straight gain following jobs report

Aug. 7, 2020 5:32 PM EDT

NEW YORK (AP) — Wall Street’s big rally let off the accelerator on Friday, despite a better-than-expected report on the U.S. job market, amid worries about worsening U.S.-China tensions and whether Washington can deliver more aid for the economy. The S&P 500 inched up 2.12 points, or 0.1%, to...

FILE - In this July 15, 2020, file photo, job seekers exercise social distancing as they wait to be called into the Heartland Workforce Solutions office in Omaha, Neb. The extra $600 in weekly unemployment benefits has expired, the federal eviction moratorium has ended and federal money to help businesses retain workers has grown lean. Meanwhile, the pandemic rages on and there is no consensus from Washington on another relief package. (AP Photo/Nati Harnik, File)

AP Explains: 5 key takeaways from the July jobs report

Aug. 7, 2020 3:10 PM EDT

WASHINGTON (AP) — A resurgence in COVID-19 cases didn’t shut off the American job creation machine last month — but it did slow it down. Employers added 1.8 million jobs in July, slightly more than had been expected but far fewer than the gains of the previous two months. And while the...

A currency trader smiles at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Aug. 7, 2020. Asian shares were mostly lower Friday in lackluster trading, as the region weighed continuing trade tensions over China and optimism about more fiscal stimulus for the ailing U.S. economy. (AP Photo/Ahn Young-joon)

Asian shares skid amid virus woes, China-US trade tensions

Aug. 7, 2020 12:06 AM EDT

TOKYO (AP) — Asian shares were mostly lower Friday in lackluster trading, as trade tensions between the U.S. and China offset optimism about more fiscal stimulus for the ailing U.S. economy. Investors were also awaiting a U.S. report on jobs later Friday for another gauge of the economic fallout from the...

FILE - In this Wednesday, March 11, 2020 file photo, pedestrians wearing face masks pass the Bank of England in London. The Bank of England left its benchmark interest rate at a record low of 0.1% on Thursday Aug. 6, 2020, as it expressed caution about how rapidly the United Kingdom's economy will recover from the COVID-19 pandemic. (AP Photo/Matt Dunham, File)

Bank of England says economy will take time to heal

Aug. 6, 2020 6:43 AM EDT

LONDON (AP) — The Bank of England predicted Thursday that the economic downturn in the U.K. economy might be less severe than it thought at the start of the COVID-19 pandemic - even as it warned it would take a longer time to heal the scars. The central bank opened the door to providing more monetary...

A currency trader wearing a face mask walks near the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Thursday, Aug. 6, 2020. Stocks were mixed in Asia on Thursday despite strong gains overnight on Wall Street, where the rally just kept on rolling. (AP Photo/Lee Jin-man)

Asian shares mixed as US talks on stimulus still stalled

Aug. 5, 2020 11:17 PM EDT

Stocks were mixed in Asia on Thursday despite strong gains overnight on Wall Street, where the rally just kept on rolling. Investors are watching to see if lawmakers will come ahead with fresh stimulus for the U.S. economy. Tokyo's Nikkei 225 index shed 0.4% to 22,438.61 while the Shanghai Composite index gave...

Oklahoma City Thunder guard Chris Paul (3) handles the ball against Denver Nuggets forward Torrey Craig (3) during the third quarter of an NBA basketball game Monday, Aug. 3, 2020, in Lake Buena Vista, Fla. (Kim Klement/Pool Photo via AP)

NBA Foundation created, pledges $300 million to Black growth

Aug. 5, 2020 7:15 PM EDT

LAKE BUENA VISTA, Fla. (AP) — The NBA's Board of Governors and the National Basketball Players Association have finalized plans to create the first NBA Foundation that will work to spur economic growth in the Black community, announcing Wednesday that the initial contribution will be $300 million over the...

File-This Thursday, June 6, 2019, photo shows the U.S. Treasury Department building at dusk, in Washington. The Treasury Department is projecting government borrowing of $947 billion in the current July-September period, which would be a record for the quarter but down from the all-time high of $2.75 trillion in this year's second quarter. Treasury officials announced Monday, Aug. 3, 2020, that the government also plans to borrow $1.22 trillion in the October-December period. (AP Photo/Patrick Semansky, File)

US Treasury projects record Q3 borrowing of $947 billion

Aug. 3, 2020 3:50 PM EDT

WASHINGTON (AP) — The Treasury Department is projecting government borrowing of $947 billion in the current July-September period, which would be a record for the quarter but down from the all-time high of $2.75 trillion in this year's second quarter. Treasury officials also announced Monday that the...