WASHINGTON—Driving down unemployment has become the overriding economic goal of top U.S. policy makers, an imperative that will shape many of the big decisions being made in Washington in the months ahead.
The jobless rate stalled at 6.7% in December and November after a rapid descent from double-digit levels last spring. A Labor Department report coming Friday will provide an update. Economists estimate business and government payrolls rose slightly in January and the jobless rate remained stuck in place.
Just a year ago, the unemployment rate had fallen to 3.5%, a low not seen in decades. The Federal Reserve and the new Biden administration want to get back there as quickly as possible.
Washington’s intense focus on driving unemployment much lower marks a change in policy circles and more broadly in economic thinking. The Trump administration initially set speeding up economic growth as its top goal. The Federal Reserve for decades made low and stable inflation its beacon. Previous administrations have given priority to rising homeownership, reduced poverty, low taxes, balanced budgets and other economic objectives.
The return to normality will fulfill the promises by President Biden.
10 comments:
Now we don't need that much.
Relief for actual consequences of Covid is necessary and has been necessary.
Give hurting people the relief not a shitpile of foreign actors and dem donors.
The swamp is very hungry after Trump started draining it and they want revenge.
And taxpayer money
It passed in the Senate last night.
I will get the $1,400 this month like 250,000,000 other Americans
Deficit hypocrisy award winner is!!
S.Scott Johnson $
Fed and White House.
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Jon Hilsenrath
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Kate Davidson
Feb. 4, 2021 10:38 am ET
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WASHINGTON—Driving down unemployment has become the overriding economic goal of top U.S. policy makers, an imperative that will shape many of the big decisions being made in Washington in the months ahead.
The jobless rate stalled at 6.7% in December and November after a rapid descent from double-digit levels last spring. A Labor Department report coming Friday will provide an update. Economists estimate business and government payrolls rose slightly in January and the jobless rate remained stuck in place.
Just a year ago, the unemployment rate had fallen to 3.5%, a low not seen in decades. The Federal Reserve and the new Biden administration want to get back there as quickly as possible.
Washington’s intense focus on driving unemployment much lower marks a change in policy circles and more broadly in economic thinking. The Trump administration initially set speeding up economic growth as its top goal. The Federal Reserve for decades made low and stable inflation its beacon. Previous administrations have given priority to rising homeownership, reduced poverty, low taxes, balanced budgets and other economic objectives.
The return to normality will fulfill the promises by President Biden.
https://www.wsj.com/articles/biden-fed-economy-covid-employment-inflation-11612451174?st=j5cib3qpkucowhv&reflink=share_mobilewebshare
There is a risk of inflation but when millions of Americans go back to work, their taxes will reduce the deficit by 2024
Biden after jobs report: "We can't do too much here..... but we can do too little"
Normality has returned.
I will get the $1,400 this month like 250,000,000 other Americans
good for you, alky.
first of all, I don't need the money.
second, $1400.00 X 250,000,000 = $350,000,000,000.
so why are we spending $1.9 TRILLION so we can have $350 BILLION?
riddle me that, asshat.
Because Cuomo needs to be bailed out
Roger, the Senate passed the house Bill?
With the $15 minimum wage ?
"Roger AmickFebruary 5, 2021 at 9:40 AM
It passed in the Senate last night.
I will get the $1,400 this month like 250,000,000 other Americans"
Not the Biden promised and Roger/Jane assured use he would deliver $2,000?
Roger is in fact a Fucking Retard.
"250,000,000 other Americans:
The US has (209,128,094) 18 years and over.
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