White House: Congress might need to rush narrow relief bill to avoid unemployment aid lapse
Enhanced unemployment benefits are expiring at the end of this week for millions of Americans.
Economic Stimulus
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COVID-19 uncertainty makes economic predictions more difficult
Economists are struggling to understand how bad the fallout might get and how long it might take to recover.
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IBJ Podcast: How can companies survive the economic calamity of COVID-19?
“It’s your job to survive and to make sure that when these social controls are lifted and everybody starts to come back out that you’re ready for business,” IU’s Phil Powell, an economist at the Kelley School of Business, tells host Mason King.
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Articles
Indiana Supreme Court partially shields COVID-19 stimulus checks from debt collection
Indiana Legal Services, Prosperity Indiana, Neighborhood Christian Legal Clinic and Indiana Institute for Working Families petitioned the court to protect the payments issued as part of the federal Coronavirus Aid, Relief and Economic Security Act.
Dow soars nearly 2,000 points as Trump announces new virus measures
Investors have been clamoring for strong action from the U.S. government to combat the economic impact of the virus outbreak.
As central banks intervene to calm markets, few see solution
On Thursday, the Fed unveiled a massive short-term lending program to try to help smooth trading in U.S. Treasuries. Many economists now expect the Fed to slash its benchmark interest rate by a full percentage point, to nearly zero, at its policy meeting next week.
Trump to seek payroll tax cut, relief for hourly workers as part of virus response
The president also said he was seeking to provide assistance to the airline, hotel and cruise industries, which are all suffering as Americans rapidly cancel travel plans.
Congress delivers massive tax reform package to Trump’s desk
The epic overhaul of U.S. tax laws offers generous tax cuts for corporations and the wealthiest Americans while providing smaller cuts for middle- and low-income families. It’s projected to increase the national debt while potentially boosting economic growth.
East side’s Promise Zone hits big milestone by leveraging nearly $120M
The area on the near-east side is one of eight nationally to be designated for the program, which gives high-poverty communities a leg up in receiving assistance for revitalization efforts.
Unemployment rate holds steady as U.S. regains lost jobs
Employers added 217,000 jobs in May, a substantial gain for a fourth straight month, fueling hopes that the economy will accelerate after a grim start to the year.
Minimum wage bills pushed in at least 30 states
A pitch last week from Indiana Democrats was a nonstarter. But a Quinnipiac University poll this month found 71 percent of Americans in favor of raising the minimum wage—including more than half of Republicans polled.
U.S. economy adds 195K jobs; unemployment rate steady
The job growth suggests a stronger economy and makes it more likely the Federal Reserve will slow its bond purchases before year’s end.
Slower U.S. growth might lead Fed to keep up stimulus
The U.S. economy may not be strong enough for the Federal Reserve to slow its bond purchases later this year. That's the takeaway from economists after the government cut its estimate of growth in the January-March quarter to a 1.8-percent annual rate.
Health care providers opening to technology
Some health care system are finally allowing online scheduling.
MARCUS: Tax cuts are not efficient as a job stimulus
Many of the best minds in the nation are endorsing the latest stimulus package, which retains the Bush tax cuts and reduces workers’ Social Security contributions nearly one-third.
LEADING QUESTIONS: Carson talks Congress, whips, soft rock
U.S. Rep. Andre Carson on his new duties, earmarks, anti-Islam rhetoric, and his love for smooth tunes.
Auto industry bailout pulls Kokomo back from brink
Kokomo's fortunes have been entwined with the auto industry since 1894, when Elwood Haynes invented one of the first automobiles in the United States there. Since the 1930s, when then-Delco (later Delphi) located there, followed by General Motors and Chrysler, the auto industry has been the town's bread and butter.
COAN: Stocks will get worse before they get better
Looking at the final years of the Great Depression tells me that next year might not be so kind to investors.
Indianapolis investment adviser Gene Tanner in it for the long haul
At 78, L. Gene Tanner is one of the longest-serving investment advisers working in Indianapolis. Tanner spoke with IBJ's Norm Heikens about why he shifted to City Securities, his brush with convicted Ponzi scheme operator Bernard Madoff, and how his investment strategy has changed.
Strategist: U.S. economy picking up pace, slowly
The economy is picking up its pace but not quickly enough to satisfy the public, Fifth Third Bank strategist John Augustine said Friday. It may not return to pre-recession levels until 2017.
Indiana slow to accept federal stimulus help
Under political pressure, Gov. Mitch Daniels’ administration has come late to the federal stimulus funds game. At best, the state will recover $24 million in reimbursements for money spent by not-for-profit agencies on services to the poor.
National unemployment rate back on the rise
Overall, the economy lost 54,000 jobs as 114,000 temporary census positions came to an end. State and local governments shed 10,000 positions. The jobless rate rose to 9.6 percent from 9.5 percent in July.