Business

Time is running out for an economic rescue

The American economy has slowly stalled out over the last several months, as the economic boost from the CARES Act rescue package has been spent down. Now that progress may be falling into reverse. New claims for unemployment insurance have been steady at around 850,000 per week since late August — which is about 200,000 more than the very worst point of the Great Recession.

If Congress doesn’t pass another round of economic rescues, then this will be one of the worst winters in American history. Speaker of the House Nancy Pelosi and Secretary of the Treasury Steven Mnuchin were reportedly close to an agreement last week on a $1.6

Source:

theweek.com

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