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Desperate Americans hit by pandemic beg Congress, Trump to pass economic relief bill

Desperate Americans hit by pandemic beg Congress, Trump to pass economic relief bill

(Reuters) – Sylvia Padilla spent last Thursday checking food pantries in Lubbock, Texas for groceries to feed herself, her daughter and three-year-old grandson.

Sylvia Padilla poses for a photo outside St. John’s United Methodist Church in Lubbock, Texas, U.S. on October 8, 2020. REUTERS/Brad Brooks

Some places were closed, others had nothing available. Outside the shuttered St. John’s United Methodist Church, Padilla, 50, recounted her struggle to survive during the economic disaster that the novel coronavirus pandemic had dumped upon her, choking words out through tears of fear and frustration.

“This is like a nightmare I can’t wake up from,” Padilla said, resting her face in her hands. “It really feels like a nightmare, but it’s our reality.”

Like many Americans, Padilla is barely getting by and says she desperately needs government help. She received a $1,200 check in April from the Coronavirus Aid, Relief and Economic Security Act passed by the U.S. Congress and signed by President Donald Trump on March 27.

The check helped her pay back rent she owed and she and others are hoping that lawmakers and the Trump administration can reach accord soon on another relief package after months of disagreements.

“We’ve got some potatoes and beans at home. A bit of flour for tortillas. We’re just trying to make that stretch,” said Padilla, whose business selling food to construction workers ended with the pandemic and her daughter last month lost her job in retail sales.

“A new stimulus check would really mean the world to me right now.”

After March’s shutdowns to curb the spread of the virus, unemployment in the United States shot to levels here not seen since the Great Depression. Many jobs returned as parts of the economy reopened, and consumer spending rebounded, thanks in part to the $2.2 trillion stimulus

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Desperate Americans Hit by Pandemic Beg Congress, Trump to Pass Economic Relief Bill | Investing News

Desperate Americans Hit by Pandemic Beg Congress, Trump to Pass Economic Relief Bill | Investing News

By Brad Brooks, Mimi Dwyer and Rich McKay

(Reuters) – Sylvia Padilla spent last Thursday checking food pantries in Lubbock, Texas for groceries to feed herself, her daughter and three-year-old grandson.

Some places were closed, others had nothing available. Outside the shuttered St. John’s United Methodist Church, Padilla, 50, recounted her struggle to survive during the economic disaster that the novel coronavirus pandemic had dumped upon her, choking words out through tears of fear and frustration.

“This is like a nightmare I can’t wake up from,” Padilla said, resting her face in her hands. “It really feels like a nightmare, but it’s our reality.”

Like many Americans, Padilla is barely getting by and says she desperately needs government help. She received a $1,200 check in April from the Coronavirus Aid, Relief and Economic Security Act passed by the U.S. Congress and signed by President Donald Trump on March 27.

The check helped her pay back rent she owed and she and others are hoping that lawmakers and the Trump administration can reach accord soon on another relief package after months of disagreements.

“We’ve got some potatoes and beans at home. A bit of flour for tortillas. We’re just trying to make that stretch,” said Padilla, whose business selling food to construction workers ended with the pandemic and her daughter last month lost her job in retail sales.

“A new stimulus check would really mean the world to me right now.”

After March’s shutdowns to curb the spread of the virus, unemployment in the United States shot to levels https://www.reuters.com/article/us-usa-economy/coronavirus-deals-u-s-economy-great-depression-like-job-losses-high-unemployment-idUSKBN22K1NS not seen since the Great Depression. Many jobs returned as parts of the economy reopened, and consumer spending rebounded, thanks in part to the $2.2 trillion stimulus bill.

Now that cash, paid directly to individual Americans and small businesses to pay

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Concert Pharmaceuticals Announces CTP-543 Alopecia Areata Data Selected for Late-Breaker Oral Presentation at 2020 EADV Virtual Congress

Concert Pharmaceuticals Announces CTP-543 Alopecia Areata Data Selected for Late-Breaker Oral Presentation at 2020 EADV Virtual Congress

Concert Pharmaceuticals, Inc. (NASDAQ: CNCE) today announced that it will present clinical data on CTP-543 for the treatment of alopecia areata as a late-breaker oral presentation at the 29th European Academy of Dermatology and Venereology (EADV) Virtual Congress. The meeting will be held virtually October 29-31, 2020. The oral presentation will highlight new data from an ongoing open label extension study evaluating long-term safety and treatment effects of CTP-543 in patients with moderate to severe alopecia areata.

The details of the presentation are as follows:

  • Title: Initial Results from a Long-Term, Open-Label Extension Study with CTP-543, an Oral Janus Kinase Inhibitor, in Patients with Moderate to Severe Alopecia Areata

  • Date and Time: Thursday, October 29, 2020, 3:00 – 3:15 pm Central European Time

  • Session: D1T03.3C: Late-Breaking News Session

  • Location: EADV Virtual Meeting. Registration is required to participate: https://eadvvirtualcongress.org/registration/

About CTP-543 and Alopecia Areata

CTP-543 is an oral selective inhibitor of Janus kinases JAK1 and JAK2. The U.S. Food and Drug Administration (FDA) has granted CTP-543 Breakthrough Therapy designation for the treatment of adult patients with moderate to severe alopecia areata and Fast Track designation for the treatment of alopecia areata. The Company expects to begin Phase 3 evaluation of CTP-543 in the fourth quarter of 2020. Additional information on the upcoming trial is available on www.clinicaltrials.gov.

Alopecia areata is an autoimmune disease in which the immune system attacks hair follicles, resulting in partial or complete loss of hair on the scalp and body. Alopecia areata may affect up to 700,000 Americans at any given time1. The scalp is the most commonly affected area, but any hair-bearing site can be affected alone or together with the scalp. Onset of the disease can occur throughout life and affects both women and men. Alopecia areata can be associated with serious

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Congress needs to be ‘aggressive’ with economic assistance to boost recovery, Fed’s Kashkari says

Congress needs to be ‘aggressive’ with economic assistance to boost recovery, Fed’s Kashkari says

Minneapolis Federal Reserve President Neel Kashkari is urging Congress to be “aggressive” with economic assistance in order to boost the United States’ recovery from the coronavirus pandemic.

“I’m seeing, especially on the small business front, I mean, some sectors of the economy are doing fine. If you are a white-collar worker like I am … you’re able to work from home. You’re really not affected by this pandemic,” Kashkari told CBS’ Face the Nation. “But there are many sectors of the economy that are still being devastated. The travel and tourism industries, the frontline service industries, restaurants, and that’s where you’re seeing big job losses and bankruptcies. And this is going to continue to spiral and continue to bleed on.”

Kashkari said that there are roughly 11 million Americans who are still struggling to pay their bills and put food on the table, and that as long as the problem continues for consumers, there will be “spillover effects” on other areas of the economy.

“The reason the economy bounced back as strongly as it did in June and July is because Congress was so aggressive in the spring,” Kashkari added. “We need Congress to continue to be aggressive so that the recovery can be stronger.”

He warned that it took 10 years to rebuild the labor market from the Great Recession and that the country can avoid going through a similar experience now if Congress is more aggressive in its spending in the immediate moment rather than the future.

TRUMP SAYS HE WANTS A LARGER STIMULUS PACKAGE THAN GOP OR DEMS ARE DISCUSSING

While Kashkari acknowledged that the Federal Reserve can use broad-based tools like lowering interest rates and quantitative easing, he stressed that it cannot fix the specific areas

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Fed: economic recovery will slow without more aid from Congress

Fed: economic recovery will slow without more aid from Congress

The meeting minutes underscore how essential Fed leaders view another stimulus package to a strong and stable recovery, and one that reaches households, businesses and local governments still on the brink. At that meeting, Fed leaders improved their estimates on unemployment in the coming years, reflecting a sense of optimism that people were returning to work faster than expected.

But in many cases, those projections factored in some measure of more fiscal aid, the prospects of which were thrown into chaos Tuesday night after President Trump abruptly called off negotiations but then continued to push for more talks on narrower targeted aid.

“If future fiscal support was significantly smaller or arrived significantly later than they expected, the pace of the recovery could be slower than anticipated,” according to the minutes.

Fed policymakers also warned that, while the Cares Act was crucial for providing benefits to millions of families, Congress’s “support so far for households, businesses, and state and local governments might not provide sufficient relief to these sectors,” the minutes read. Fed leaders pointed to “the extent and timing of additional fiscal support” as another source of uncertainty, along with the economic toll of school and small business closures as well as bankruptcies.

On Tuesday, Fed Chair Jerome H. Powell called on Congress yet again to keep up the support, especially to pockets of the economy that were not experiencing a rebound. Speaking at the annual meeting of the National Association for Business Economics, Powell said that too-little support could ultimately lay a foundation for household insolvencies, business bankruptcies and meager wage growth.

“By contrast, the risks of overdoing it seem, for now, to be smaller,” Powell said Tuesday. “Even if policy actions ultimately prove to be greater than needed, they will not go to waste.”

But that afternoon, Trump

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