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The U.S. economy under Biden so far
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What's to show economically for 100 days of work? Plus, better-than-expected quarterly results for bigger companies, and what they say about where the economy is and where it's headed. And, the early details on the second part of President Biden's infrastructure plan, which is focused on support for families and children.
Segments From this episode
Of the S&P 500 companies that have reported quarterly results so far, most are beating expectations
We get more on this from Susan Schmidt, head of U.S. equities with Aviva Investors. "On average, over 80% of the companies that have reported have surprised to the upside with earnings estimates, and over 70% of them have surprised to the upside on their sales figures," Schmidt said. "That's very positive and positive bolster for the sentiment in the market." Meanwhile, central bankers are meeting today, and Schmidt says it's highly unlikely they're going to change policy and raise interest rates. She says they've been adamant they'll keep rates low, "and if inflation comes up, they're going to see it as transitory."
Help is on the way for arts organizations and schools. But tackling thornier economic issues will require bipartisan support.
The administration is calling it transformational spending. Republicans say it’s too much spending.