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The president's budget details his ambitious (and costly) plans to invest in infrastructure and the social safety net — the likes of which the country hasn't seen in decades.
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Janelle Jones is the first Black woman to serve as chief economist at the Labor Department. She says helping marginalized groups boosts the entire economy.
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Powell warned it will take time to put millions of jobless Americans back to work, while also downplaying inflation threats.
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President-elect Joe Biden is proposing a $1.9 trillion plan to address the coronavirus pandemic and the resulting economic crisis.
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U.S. GDP grew at a record 33.1% annualized pace in the third quarter, erasing some but not all of the damage done by the coronavirus recession.
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The unemployment rate fell to 11.1%. But there are indications that the job growth has slowed recently amid a surge of new coronavirus infections.
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The Fed leaves interest rates near zero as expected, and promises to use all of its tools to support the economy. Officials project unemployment above 9% at the end of this year.
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All 50 states have at least partially eased tight restrictions on businesses, with a mix of policies letting restaurants or stores welcome customers.
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Asked Sunday whether the nation's true unemployment rate was close to 25%, Treasury Secretary Steven Mnuchin responded, "we could be."
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More than 4.4 million laid-off workers applied for U.S. unemployment benefits last week as job cuts escalated across an economy that remains all but shut…