This week's economic data offers fresh hints that the U.S. recovery will slow without new federal aid, a possible blow to President Donald Trump's reelection bid, especially since any new spending before the Nov. 3 presidential election seems unlikely.
- This week’s economic data offers fresh hints that the U.S. recovery will slow without new federal aid, a possible blow to President Donald Trump’s reelection bid, especially since any new spending before the Nov. 3 presidential election seems unlikely.
The number of Americans filing new claims for unemployment dropped less than expected, and applications for the week before were revised up, suggesting the labor market recovery has plateaued.Meanwhile, a Fed survey released Friday showed that American households were better off financially in July than they were in the first months of the crisis, in large part because of their access to government aid.U.S.
Eventually, Congress will pass some pandemic relief, no matter who wins the presidential contest. But it’s likely to be less under Trump, a Republican, than under Democratic presidential nominee Joe Biden.
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