Fed’s Powell warns of ‘lasting damage’ as Congress debates new big bang stimulus

Congress on Wednesday began a debate over a new round of coronavirus-fighting economic stimulus, as those infected by the coronavirus closed in on 4.3 million worldwide, which prompted investors to rethink the wisdom of extending a recent rally. The COVID-19 crisis, which has claimed over 293,000 lives worldwide, has brought the world’s largest economy to […]

What to look for in the fourth stimulus bill

Congress has passed $3.6 trillion in stimulus spending so far, and it will take a lot more to stabilize an economy reeling from the coronavirus pandemic. But Democrats and Republicans in Congress increasingly have different priorities about what should be in the next...

The new taxes coming to finance all that stimulus spending

During the last two months, Congress has passed $3.6 trillion in stimulus spending, with more probably on the way. Washington’s annual deficit was likely to be around $1 trillion before the COVID-19 pandemic induced a recession. The deficit will now hit at least $3.7...