U.S. economy 'losing steam' as it hits fiscal cliff

[Yo_Mama_Been_Loggin]

(Reuters) - The U.S. push to fire up its economy in the middle of a pandemic remained stalled last week with signs the lapse of emergency unemployment benefits and business grants may have begun taking a toll.

Hiring at small businesses, shifts worked across a range of industries, credit card spending and even gasoline demand that typically grows through the summer remained flat and mired far below the levels a year ago.

Initial filings for unemployment insurance did fall below 1 million for the first time since the March onset of the coronavirus-driven economic downturn, and the number of people continuing to collect benefits fell 604,000 to 15.486 million in the week ending August 1.

The outcome led a New York Federal Reserve weekly index of projected growth in gross domestic product to improve slightly.

https://finance.yahoo.com/news/u-hits-fiscal-cliff-jobs-155342275.html

[dalton99a]

1. The Trump Depression is coming

[sandensea]

3. The Trump Slump

[SoonerPride]

2. If the Fed hadn't poured trillions in the stock market it would be apparent

The market is falsely inflated.

It should reflect the economic reality.

But it is inflated and propped up by the Fed so the public isn’t panicking about the economy like they should be.