The package will create millions of jobs, putting the country in a position to win the global competition with China in the upcoming years, US President Joe Biden says.
US President Joe Biden is signing two executive orders that will increase food aid, protect job seekers on unemployment and clear a path for federal workers and contractors to get a $15 hourly minimum wage.
Trump forgoes earlier demand of increasing stimulus cheques for struggling Americans to $2,000 from $600. The turnabout came after calls from all sides of the political spectrum for action to avert an economic and social disaster.
Researchers in Germany and France have reached a sobering calculation that US closures saved lives – at a high cost to economy.
Between making the rich wealthier, or spending more than the government can afford, the two presidential candidates have presented starkly opposing economic plans. They are only similar in recognizing the US is more in debt than ever before.
The positive test reading for the leader of the world’s largest economy adds more uncertainty to investors' worries. US stock futures and Asian shares fell in the wake of the news. Future contracts for S&P 500 and Dow industrials lost 1.9 percent.
President Donald Trump says US soldiers are "in love" with him, but the US military leaders "probably aren't because they want to do nothing but fight wars."
More than 50 US tech firms and organisations argue that President Trump's suspension of non-immigrant visa programs, including H-1B visas will hurt the country's tech industry.
The US government’s estimate of the second-quarter fall in the gross domestic product was the sharpest such drop on record dating back to 1947, though slightly less bad than expected.
IMF warns that the brunt of the economic impact is being borne by lower income families, predominantly Black and Hispanic, who are least able to weather the downturn.
The high level of layoffs are occurring as a spike in Covid-19 cases has forced six states to reverse their move to reopen businesses.
A prominent US Republican senator Lindsey Graham, who enjoys close ties with President Donald Trump, advocates for a free trade agreement between the two countries, saying it could help both reap economic benefits.
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