News

Government Stimulus

Reuters | Equities.com |

American Express Co exceeded quarterly profit estimates on Friday as it released more than $1 billion worth of funds it had set aside to cover potential coronavirus loan losses.

The outlook for card companies is improving as government stimulus and vaccine rollouts fuel an economic recovery, helping the industry recover from a pandemic-driven slump in non-essential consumer spending last year.


Reuters | Equities.com |

The U.S. government posted a March budget deficit of $660 billion, a record high for the month, as direct payments to Americans under President Joe Biden’s stimulus package were distributed, the Treasury Department said on Monday.

The deficit for the first six months of the 2021 fiscal year ballooned to a record $1.706 trillion, compared to a $743 billion deficit for the comparable year-earlier period.