Government finance

In this April 3, 2020, photo, a man wearing a face mask due to COVID-19 concerns stands outside a check cashing service center in the Brooklyn borough of New York. While millions of U.S. workers have already received a quick relief payment from the federal treasury through direct deposit, millions of others without traditional bank accounts must wait weeks for paper checks. Advocates for the poor say this is an opportunity to get many of those who are unbanked into the formal financial system. (AP Photo/Bebeto Matthews)
May 06, 2020 - 6:02 am
WASHINGTON (AP) — The Treasury Department is detailing how it plans to borrow a record-breaking $2.99 trillion in debt this quarter which will include issuing for the first time since 1986 a 20-year bond. The Treasury faces an unprecedented need for credit because of the trillions of dollars the...
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In a June 20, 2019 photo, a dealer conducts a card game at the Hard Rock casino in Atlantic City N.J. On Tuesday, May 5, 2020 unions and casino workers in four states called for casinos to provide protective equipment and adopt strict cleaning and health measures before casinos reopen in the U.S. (AP Photo/Wayne Parry)
May 05, 2020 - 1:48 pm
ATLANTIC CITY, N.J. (AP) — Casino workers across the country want their employers to provide them with protective equipment and adopt tough new cleaning and social distancing policies before the gambling halls reopen during the coronavirus outbreak. Union leaders and workers from casinos in Las...
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FILE - In this March 3, 2020, file photo, Hawaii state Department of Health microbiologist Mark Nagata demonstrates the process for testing a sample for coronavirus at the department's laboratory in Pearl City, Hawaii. An Associated Press analysis shows that some of the least-populated states, such as Hawaii, with relatively few coronavirus cases received an out-sized proportion of the $150 billion in federal money that was designed to address virus-related expenses. (AP Photo/Audrey McAvoy, File)
May 05, 2020 - 9:07 am
Alaska, Hawaii, Montana and Wyoming are among the least-populated states in the U.S., and not surprisingly have the lowest numbers of residents who have tested positive for the new coronavirus. But despite their small size, they scored big this spring when Congress pumped out direct federal aid to...
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This Sept. 18, 2019 photo shows the U.S. Treasury Department building viewed from the Washington Monument in Washington. The Treasury Department says it will need to borrow a record $2.99 trillion during the current April-June quarter to cover the cost of various rescue efforts dealing with the coronavirus pandemic. Treasury said Monday, May 4, 2020 that the $2.99 trillion it plans to borrow this quarter will far surpass the $530 billion quarterly borrowing it did in the July-September 2008 quarter as it dealt with the 2008 financial crisis. The extraordinary sum of $2.99 trillion of borrowing in a single quarter dwarfs the $1.28 trillion the government borrowed in the bond market for all of 2019. (AP Photo/Patrick Semansky)
May 04, 2020 - 2:49 pm
WASHINGTON (AP) — The economic paralysis triggered by the coronavirus pandemic is forcing the U.S. Treasury to borrow far more than it ever has before — $2.99 trillion in the current quarter alone. The amount is more than five times the government’s previous record borrowing for a quarter, $569...
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House Speaker Nancy Pelosi of Calif. adjusts her face mask during a news conference on Capitol Hill Thursday, April 30, 2020, in Washington. (AP Photo/Manuel Balce Ceneta)
AP News
April 30, 2020 - 8:19 pm
WASHINGTON (AP) — House Speaker Nancy Pelosi said Thursday that state and local governments are seeking up to $1 trillion for coronavirus costs, a stunning benchmark for the next aid package that's certain to run into opposition from Senate Republicans. Pelosi acknowledged the federal government...
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In this Wednesday, April 29, 2020 photo a man walks in front of the European Central Bank in Frankfurt, Germany. The European economy shrank by 3.8% in the first quarter, the most since records began, as business activity was frozen by shutdowns aimed at preventing the spread of the coronavirus. It was the biggest drop since statistics started in 1995 and bigger than the plunge in the midst of the global financial crisis in the first quarter of 2009 after the bankruptcy of U.S. investment bank Lehman Brothers. (AP Photo/Michael Probst)
April 30, 2020 - 5:29 am
FRANKFURT, Germany (AP) — The European Central Bank is stepping up its measures to cushion the economy against a record downturn caused by the lockdowns on business due to the virus outbreak, offering large helpings of cheap credit to banks in hopes it will be passed on to struggling businesses...
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Medical Cannabis / Marijuana
Medical Cannabis / Marijuana Medical Cannabis (Photo credit: Rick Loomis/Los Angeles Times/MCT/Sipa USA)
AP News
April 29, 2020 - 5:01 pm
LOS ANGELES (AP) — A coalition of marijuana companies, churches and advocacy groups is asking California Gov. Gavin Newsom for a temporary cut in the state’s hefty pot taxes. The group that includes the California State Conference of the NAACP, Los Angeles Metropolitan Churches and the industry...
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FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve said Friday, April 24, it had $85.8 billion in loans outstanding last week in three of the programs it rolled out last month to protect the economy during the coronavirus pandemic.   (AP Photo/Jacquelyn Martin, File)
April 29, 2020 - 3:05 pm
WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it will keep its key short-term interest rate near zero for the foreseeable future as part of its extraordinary efforts to bolster an economy that is sinking into its worst crisis since the 1930s. Chairman Jerome Powell noted the gravity...
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A worker disinfects the roof terrace of the Atlantic hotel, in Rome, Wednesday, April 29, 2020. After seven weeks in lockdown to contain one of the world’s worst outbreaks of COVID-19, Italians are regaining some freedoms, starting on May 4, public parks and gardens will re-open and people will be able to visit relatives who live in the same region. (AP Photo/Andrew Medichini)
April 29, 2020 - 11:19 am
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to the global economy, the work place and the spread of the virus. ________________________ CENTRAL GOVERNMENTS & BANKS: Countries are slowly trying to...
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FILE - This May 18, 2017, file photo shows the Healthcare.gov website on a laptop computer in Washington. Mass layoffs are pushing many Americans into an unfamiliar role: Shopping for health insurance that isn’t offered by an employer. A swirl of potentially confusing terms and options await inexperienced health insurance shoppers as they sort coverage plans for at least the next couple months. But experts say these obstacles can be conquered with patience and some help from agents or navigators who specialize in finding insurance. (AP Photo/Alex Brandon, File)
April 29, 2020 - 6:41 am
Mass layoffs are pushing many Americans into an unfamiliar role: shopping for health insurance that isn’t offered by an employer. A swirl of confusing terms and options await inexperienced shoppers as they sort health insurance plans. And there’s probably no one from human resources available to...
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