U.S Treasury Secretary Janet Yellen says Americans will start receiving $1,400 relief payments this weekend, reports Bloomberg. The remarks came hours after the enactment of the $1.9 trillion pandemic-relief bill triggering aid to households, businesses, state and local governments.
Yellen expects the package to address the pandemic impacts and get the economy back, operating in a normal way.
Yellen refuted claims that the administration has “overshot the mark” with the size of the relief bill, terming it the “right size.”
The payments come at a time the U.S economy has shown signs of recovery as vaccinations reached a pace exceeding 2 million a day.
On Thursday, U.S jobless claims fell more than expected, hitting the lowest since early November.
U.S stocks are currently declining as the dollar gains. SPY is down 0.62%, QQQ is down 1.75%, EURUSD is down 0.56%
