Janet Yellen, Biden's pick for treasury secretary, says U.S. needs more pandemic relief spending

Yellen, a former Fed chair, has advocated for more spending to aid small businesses and the unemployed during COVID-19.
Yellen is seen as an authority on what happens if the government cuts back on stimulus spending too soon.
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AP source: Biden taps ex-Fed chair Yellen to lead treasury

Nov 23, 2020
Yellen, who is widely admired in the financial world, would be the first woman to lead the Treasury Department.
Former Federal Reserve Chair Janet Yellen speaks during her last news conference in office in 2017 in Washington, D.C.
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Lapse in Fed lending programs could cost companies hurt by COVID

Companies hurt by the pandemic could end up paying investors a full percentage point more in interest to buy their bonds.
Treasury Secretary Steven Mnuchin and Chairman of the Federal Reserve Jerome Powell testify during the Senate's Committee on Banking, Housing, and Urban Affairs hearing examining the quarterly CARES Act report to Congress on Sept. 24, 2020, in Washington.
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Mnuchin moves to cut off Fed pandemic emergency lending program

Economist Karen Petrou says the Fed programs have fallen short, but that the Fed needs some facilities in the face of inaction from Congress.
Treasury Secretary Steven Mnuchin and Federal Reserve Board Chair Jerome Powell testify during a Senate Banking Committee hearing on Capitol Hill on Sept. 24, 2020 in Washington.
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Mnuchin rejects renewal of some Fed emergency loan programs

Nov 19, 2020
Mnuchin said that he is requesting that the Fed return to Treasury the unused funds appropriated by Congress for operation of the programs.
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Treasury report on paying for long-term care offers few solutions for families

It only calls for modest tweaks to the private long-term care insurance market.
About half of Americans turning 65 these days will need some kind of long-term care and support services before they die.
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Some people still have not received the first COVID-19 relief check. Here's why.

A new study by the Brookings Institution found racial disparities in whose checks were delayed.
One way to make sure more people get their payments if their is a second round is to consider prepaid debit cards instead of Treasury checks.
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Who got PPP loans? Trump administration releases the data.

It's clear the loans went to some enterprises that are once again prompting questions about who really needed the government aid.
Larger companies initially took advantage of the Paycheck Protection Program, which was intended to offer forgivable loans to smaller businesses.
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Some paper checks have already gone out, the IRS says, but others could take until June or July.
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What you need to do to get your COVID-19 stimulus check

If you got a tax refund or paid the IRS by paper check last year, you'll need to get your bank details in to the agency.
If the IRS has your direct deposit details, you don’t need to do anything.
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