The U.S. lost a stunning 22 million jobs in March and April at the beginning of the coronavirus pandemic, with only about half of those numbers returning in the following seven months. With weekly jobless claims remaining high, voters might want to know more about what former Vice President Joe Biden and President Donald Trump intend to do on the issue of labor.
Biden has pledged to do whatever it takes to help jobs recover through direct stimulus payments. His plan includes funding for state and local governments to keep essential workers on their payrolls and federal payouts to supplement state unemployment checks.
Meanwhile, Trump favors tax cuts and deregulation to stimulate the economy but concedes that another infusion of cash stimulus is likely needed. The president also extended federal unemployment benefits for six weeks after they were set to expire in July but at a lower rate of $300 a week, half the amount of the earlier benefit.
Both candidates support tax incentives for manufacturers to keep jobs at home. Biden even proposes tax penalties for those businesses that ship manufacturing jobs overseas with the intention of selling finished products back into the U.S.
Whoever wins the election in November faces a daunting task, with millions still out of work, consumer spending slowing down, and a resurgence in coronavirus cases adding to the economic woes.
The crypto lobbying boom kicked off last year, sparked by a broadly-worded provision in the bipartisan infrastructure bill. Cheddar's Alex Vuocolo takes a deeper look.
U.S. stocks ended Wednesday's session mixed following the release of the minutes from the Federal Reserve’s most recent meeting, and amid ongoing tensions between Russia and Ukraine. Dan Eye, Chief Investment Officer at Fort Pitt Capital Group joined Cheddar News' Closing Bell to discuss.
Applications for U.S. unemployment benefits rose last week, but remain near historically low levels, reflecting relatively few layoffs across the economy
As we celebrate Black History Month, Cheddar is highlighting prominent Black Americans who are carving their own historic paths and trailblazing in their fields. Today we feature activist Tamika Mallory.
As more and more states end mask mandates and ease other COVID restrictions, discussions about the endemic phase of the pandemic have been growing. For weeks, scientists have warned about how contagious the omicron variant is, but now it seems the tone has shifted and governors are rolling back policies they've had in place for months. Dr. Eric Feigl-Ding, epidemiologist and senior fellow at the Federation of American Scientists, joined Cheddar's Opening Bell to discuss what the next phase of the pandemic might look like, how to act now that mask mandates are ending, and if we should be worried about another variant emerging.
Jeff Powell, Managing Partner and Chief Investment Officer at Polaris Wealth Advisory Group, joins Cheddar News' Closing Bell, where he says the market was looking for - and received - a little bit of relief when it came to the geopolitical conflict between Russia and Ukraine.
