Tag: economic recover

Fed’s Powell urges Congress to spend on unemployed in pandemic

Fiscal policy has more immediate effect, Fed chairman says

Federal Reserve Chairman Jerome Powell on Tuesday urged Congress to spend more money to limit the economic damage of the COVID-19 pandemic, the latest in a chorus of current and past Fed officials to tell lawmakers that inaction could lengthen the recession.

“There’s a reasonable probability that more will be needed both from you, and from the Fed,” Powell told the Senate Banking Committee, echoing nudges he has made in nearly every public statement since the pandemic began.

Powell has noted that COVID-19’s economic devastation has fallen hardest on low-income workers — 40 percent of individuals making under $40,000 lost their jobs during the crisis. Continue reading.

Rep. Philips introduces bill to expand national service to strengthen COVID-19 response

The UNITE Act of 2020 would provide employment opportunities for a whole-of-government response to the COVID pandemic

WASHINGTON, DC — On Tuesday, Rep. Dean Phillips (D-MN) announced the introduction of legislation to mobilize Americans to fight against the coronavirus. Introduced in the Senate last week by Senators Edward J. Markey (D-MA) and Chris Van Hollen (D-MD), the Undertaking National Initiatives to Tackle Epidemic (UNITE) Act of 2020 would expand authorization of opportunities within AmeriCorps and the Federal Emergency Management Agency (FEMA) and directs them to prioritize projects that strengthen the response of frontlines workers. In addition, the legislation will ensure that existing workforce programs such as AmeriCorps State and National, AmeriCorps VISTA, and FEMA CORE are fully mobilized in order to assist vulnerable Americans – including the food-insecure, elderly, and homeless – during the pandemic. This group is joined by Reps. John Garamendi (D-CA), Adam Schiff (D-CA), Paul Tonko (D-NY), and John Sarbanes (D-MD) as original cosponsors.

“The American spirit of activism and hard work is alive and well especially during this challenging time,” said Phillips. “The United States must have a whole-of-government response to the COVID-19 pandemic that not only employs those who have lost their jobs or who’ve become underemployed, but also delivers relief to understaffed frontline workers. I urge my colleagues to join me in calling for the swift passage of the UNITE Act on the House floor.” Continue reading “Rep. Philips introduces bill to expand national service to strengthen COVID-19 response”