Reddit, Robinhood and hedge funds face Congress
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Some of what we're seeing in those high jobless claims numbers is a backlog that's finally being cleared
Diane Swonk, chief economist at Grant Thornton, says there was a lapse when the latest COVID relief package from the federal government passed in December and some unemployment benefits were extended again. “We were already going to take time for people to get the money that they were owed, let alone what they could qualify for. And this added another layer on to that,” she said. That aside, Swonk says, “the labor market just isn’t healing.”
Big players from GameStop stock market frenzy appear before Congress today
Marketplace’s Erika Beras has more.