Treasury broadens relief rules for state and local COVID aid
The Biden administration finalizes rules allowing cities and counties to spend up to 10 million dollars of American Rescue Plan aid without proving pandemic revenue losses. The measures broaden eligible projects to include infrastructure such as roads, dams, and broadband, with faster internet and cybersecurity improvements.
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U.S. Treasury Department
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Delta
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Wally Adeyemo
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National Association of Counties
Companies keep mum as vaccine mandate goes to Supreme Court
Major firms have stayed quiet as the Biden administration vaccine or testing rule faces the Supreme Court. Starbucks, Lowe's, Target and GM publicly back vaccination, while most others await federal guidance amid labor shortages and a patchwork of state laws. A Willis Towers Watson survey shows mixed plans to require vaccines, with few resignations tied to mandates and some firms saying mandates could aid hiring.
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Stocks fall as mixed jobs data fuel rate hike bets
The S&P 500 declines 0.4 percent and the Nasdaq logs its biggest weekly drop in a year as mixed U.S. payrolls data show slower job gains but higher pay. The 10-year Treasury yield rises to its highest since early 2020, signaling expectations for Fed rate hikes possibly as soon as March.
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Federal Reserve
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