Michigan avoided deep cuts for fiscal 2021 but is still lobbying for federal relief to make up for coronavirus-driven tax losses as a fiscal 2022 gap looms.
A “fragile” economy and his expectations for a “more gradual” than forecast recovery mean “fiscal- and monetary-policy stimulus are essential,” Federal Reserve Bank of Boston President Eric Rosengren said Wednesday.
August and September economic activity has probably been better than that of July, analysts said, however some expect economic activity will resume its decline in October and the following months.
The aid includes $9.6 billion for the Puerto Rico Electric Power Authority to repair and rebuild the electrical grid and $2 billion for the Puerto Rico Department of Education.
The Fed has been chasing its 2% inflation goal since 2012 and has yet to even come close to reaching it, thanks in part, to technology and globalization.
These public finance supporters in both chambers of Congress include Democrats from Massachusetts, Maryland, and Alabama and Republicans from Mississippi, Ohio, and Texas.
The U.S. current account deficit widened to $170.5 billion in the second quarter from a revised $111.5 billion gap in the previous quarter, data released Friday by the Commerce Department showed.
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