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Congress assistance programs ending 12 weeks after saving US from collapse - Business Insider

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12 weeks ago Congress rushed in to save the US from economic collapse. But now all its assistance programs are ending.

Renowned strategist Tom Lee nailed the market's 40% surge from its worst-ever crash. Here are 17 clobbered stocks he recommends for superior returns as the recovery gains steam.

And as people begin heading back to work, some workers will find it easier than others to do so. The jobs report showed unemployment ticking up for Black workers, while dropping for white ones. "It's clear that the pace of recovery is not even for all groups," Valerie Wilson — the director of the left-leaning Economic Policy Institute's program on race, ethnicity, and the economy — told Business Insider.

Republican Senate Majority Leader Mitch McConnell said any stimulus legislation would be taken up towards the end of July. Democrats, however,It would include the ramped-up unemployment checks, send another round of direct payments to households, and provide federal cash to states grappling with plummeting tax revenues. Yet Republicans roundly rejected it as a grab-bag of liberal priorities.

"My assumption is there will be a significant chunk... well into the millions of people, who don't get to go back to their old job... and there may not be a job in that industry for them for some time," Powell said Wednesday.Do you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please emailfrom Business Insider Intelligence on how COVID-19 is affecting industries.

 

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