Actions by Biden ‘s admin to get vaccine’s out combined with a dump of a LOT of money coming g into the economy has economists and investor’s happy seeing a strong economic recovery for the nation….
Biden IS actually doing something….
Biden in 50 days, no less….
Donald Trump did not much of anything….
I’ve added something on the Biden Labor Dept. and AntiTrust laws and Congress….
Wall Street’s rally stretched into a third day on Thursday, with the S&P 500 reaching a record high, as investors stopped worrying about inflation and rising interest rates and focused instead on what looks to be an increasingly peppy economic recovery.
The S&P 500 rose 1 percent, climbing above its Feb. 12 closing high, while the technology-heavy Nasdaq composite jumped more than 2.5 percent, amid encouraging updates on the rollout of vaccines and reopening of the economy.
Over the last month, the outlook for the economy has brightened quickly, as the vaccine rollout has picked up steam and the Biden administration pushed for, and enacted, a larger stimulus plan than many had expected.
Economist surveyed by Bloomberg now expect the economy to grow by 5.5 percent in 2021, up from expectations for a 4.1 percent growth rate just a month ago. If that 5.5 percent rate is achieved it would be the best year for the American economy since 1984.
“This is a reaction to a dramatically improving economic outlook,” Kristina Hooper, chief global market strategist at the investment management firm Invesco, said of the market rally. “This is a just a very visceral reaction to an improvement in the timeline for vaccine distribution and the prospects for a very robust reopening.”…
The Labor Department announced two moves on Thursday to reverse rules issued under the Trump administration that narrowed the protection of federal law for millions of workers.
One of the rules was likely to have deemed millions of workers in industries like construction and transportation — many of them gig workers — to be contractors rather than employees…
Congress will take up antitrust issues in full force this week, holding the first in a series of hearings about the power of Big Tech and corporate concentration across the economy.
At 10 a.m. on Thursday, the Senate antitrust subcommittee will examine modernizing century-old antitrust laws. Senator Amy Klobuchar, the Minnesota Democrat and chairwoman of the subcommittee, is expected to start with a broad survey of economic problems. The committee has called witnesses from academia, a corporate law firm and nonprofit think tanks.
“I want to start big and talk about consolidation across so many industries,” Ms. Klobuchar said in an interview. She said she also planned to outline specific problems, including the behavior of tech companies like Google and Facebook, which have gobbled up competition and have also threatened to leave Australia because of regulations that would force them to pay publishers more for their content.
“Tech competition disrupts things and we don’t want less disruption, we want more disruption and disrupters,” Ms. Klobuchar said….