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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Dec 20, 2020
Page
12
The Federal Reserve will continue purchasing government bonds until the economy shows substantial progress and keep its benchmark rate near zero through at least 2023. Powell said vaccination progress could boost growth next year, though the next 3 to 6 months may be painful for the unemployed and small businesses as cases rise.
Robinhood Financial will pay 65 million to settle SEC charges over failing to disclose full details of its dealings with high speed traders and not securing the best prices for customers on its app. The firm neither admitted nor denied the SEC findings.
The Labor Department reported 885,000 new unemployment claims last week, up from 862,000, the highest weekly total since September. Nine months after the virus paralyzed the economy, employers continue cutting jobs as restrictions rise and consumer activity declines. Daily new cases now exceed 200,000, threatening the fragile recovery.
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