The Dow jumped more than 100 points today in response to the US Treasury Secretary Janet Yellen. Calls for a massive stimulus package to drive the recovery of the US economy.
As of 10.02 hours, the Dow Jones Industrial Average was 31,603.75 points, plus 108.41 points, or 0.34%.
Industry, finance and energy stocks rebounded today. Officials fall in communications and utilities stocks.
Mrs. Yellen said: Economic stimulus is still needed Although the economic data released this period indicates that the US economy has already begun to recover.
Mrs. Yellen repeated that The $ 1.9 trillion stimulus package will bring jobs in the US to their full potential in a year.
The Dow fell more than 100 points last night. After the United States disclosed higher than expected unemployment benefits. This indicates that the US economy is still affected by the COVID-19 outbreak. The market has also come under pressure from the US release of a nearly nine-year high in import price index in January. . This signals inflation to accelerate in the coming months. And may be a factor in the US Federal Reserve (Fed) to end the monetary easing policy.
However, Mrs. Yellen stated that Inflation is not a serious concern at the moment. Because it is still low
Investors continue to keep an eye on the progress of issuing US economic stimulus measures.
Democrats previously successfully pushed Congress to approve President Joe Biden’s $ 1.9 trillion fast-track stimulus package. Budget called budget reconciliation. This will pave the way for the House of Representatives and the Senate to be able to certify the budget with more than half a vote. Instead of using two thirds of the votes for passing the general law. And enable President Biden to push forward such stimulus measures Without the need for Republican support
U.S. House of Representatives Nancy Pelosi predicted that Congress would be able to vote to approve a stimulus package to cure US citizens and businesses affected by the COVID-19 epidemic the day before. March 15, the day when the measures to assist unemployed people affected by COVID-19 expire.
While most recently Mrs. Pelosi said yesterday that The US House of Representatives will try to push the $ 1.9 trillion stimulus package to be approved this month.
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