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President-elect Joe Biden announced a new $1.9 trillion coronavirus relief package that will deliver a third round of direct payments for millions of Americans. This will top off the second ...
The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a US$1.9 trillion economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021, to speed up the country's recovery from the economic and health effects of the COVID-19 pandemic and recession. [1]
The BoE expects economic growth to be ‘broadly flat’ through 2024
The economic policy of the Joe Biden administration, colloquially known as Bidenomics (a portmanteau of Biden and economics), is characterized by relief measures and vaccination efforts to address the COVID-19 pandemic, investments in infrastructure, and strengthening the social safety net, funded by tax increases on higher-income individuals and corporations.
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This meant higher interest rates on credit cards, mortgages and auto loans, but also higher returns on certain investments, such as U.S. government bonds and high-yield savings accounts.
On 19 March, the interest rate was again cut, this time to 0.10%—the lowest rate in the bank's 325-year existence. [86] On 28 March, Fitch Ratings downgraded the UK's government debt rating from AA to AA−, because of coronavirus borrowing, economic decline, and lingering uncertainty over Brexit .
Biden made passing his $1.9 trillion bill one of his top priorities. AP Photo/Evan VucciThe Biden administration and Congress are fast-tracking a US$1.9 trillion coronavirus package that includes ...