Congress has sent President Joe Biden the landmark $1.9 trillion COVID-19 relief bill.
The continuing job cuts reflect the extent to which the pandemic disrupted normal economic activity and kept consumers hunkered down at home rather than out traveling, shopping, dining out and attending entertainment venues. Cities and states restricted the hours and capacity of restaurants, bars and other businesses. Even where restrictions didn t exist, many Americans for months chose to stay home to avoid the risk of infection.
Now, though, as vaccinations are increasingly administered around the country, business limitations are gradually eased and consumers grow more comfortable engaging face to face with others, optimism about the economy is rising. Last month, consumers bounced back from months of retrenchment to step up their spending by 2.4% - the sharpest increase in seven months and a sign that the economy may be poised to sustain a recovery.
President Joe Biden has outlined his plan to make all adult Americans eligible for vaccination by May 1 - and he raised the prospect of beginning to gain what he called "independence from this virus" by the Fourth of July.
President Joe Biden has outlined his plan to make all adult Americans eligible for vaccination by May 1 - and he raised the prospect of beginning to gain what he called "independence from this virus" by the Fourth of July.
HEADLINES & GLOBAL NEWS
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Mar 10, 2021 12:41 AM EST
(Photo : Getty Images/Alex Wong) WASHINGTON, DC - MARCH 08: U.S. President Joe Biden delivers remarks on International Women’s Day as (L-R) Vice President Kamala Harris, Air Force General Jacqueline Van Ovost, Army Lieutenant General Laura Richardson and Secretary of Defense Lloyd Austin listen during an announcement at the East Room of the White House March 8, 2021 in Washington, DC. President Biden announced the nominations of General Van Ovost and Lieutenant General Richardson to positions as 4-star combatant commanders. They will become the second and the third women to lead a combatant command in American history.
President Joe Biden has signed a sweeping pandemic relief package over Republican opposition that provides direct payments of up to $1,400, extends emergency unemployment benefits and boosts spending for COVID-19 vaccines.