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Government Debt

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WASHINGTON (AP) — Federal Reserve Chair Jerome Powell suggested Thursday that inflation will pick up in the coming months but that it would likely prove temporary and not enough for the Fed to alter its record-low interest rate policies.

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SAN JUAN, Puerto Rico (AP) — Puerto Rico’s governor announced Tuesday that a federal control board reached a key deal that would reduce the U.S. territory’s overall debt by nearly 80%, but that his administration is rejecting it amid concerns about cuts to the island’s crumbling public pension system.

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SAN JUAN, Puerto Rico (AP) — A federal control board that oversees Puerto Rico’s finances announced Wednesday that it has reached an agreement in principal with creditors to reduce a portion of the U.S. territory’s more than $70 billion public debt load.

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WASHINGTON (AP) — House Democrats on Monday proposed an additional $1,400 in direct payments to individuals as Congress began piecing together a $1.9 trillion COVID-19 relief package that tracks President Joe Biden's plan for battling the pandemic and reviving a still staggering economy.

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