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How Much Did The CARES Act Help Households Stay Afloat?
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Federal Reserve Bank of San Francisco | How Much Did the CARES Act Help Households Stay Afloat?
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What President Biden Inherits
As President Joe Biden takes office, he inherits:
The worst disease outbreak in over a century, which is spreading faster and killing more people in the U.S. than at any time since it began one year ago.
Highly effective vaccines that so far have reached only 4% of the public.
An economy struggling with 10 million jobless and millions more out of the workforce.
A rising tide of murders up nearly 36% last year in major cities.
Federal debt the highest since World War II, as a percentage of the U.S. economy, and an annual deficit running at $2.3 trillion this year even before Biden asks for a $1.9 trillion aid package.
Lessons to learn from 2020
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