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hey everyone welcome back to financial news here you'll get the latest information regarding unemployment benefits latest stimulus check updates make sure to watch the full video as you really don't want to miss any important updates on this new stimulus package also please don't forget to hit the subscribe button if you're new to the channel drop a like and comment for us it will be hugely appreciated also share the video with your friends and family as they'll surely want to know about the most up-to-date information on their stimulus checks and unemployment benefits this is what we try to provide here on financial news alright now let's get into our second stimulus package updates federal reserve chair jerome h powell said wednesday that getting americans vaccinated is the most important thing to help the economy comments that could boost president biden's push to pass a massive new relief package that includes big spending on vaccines powell said at a news conference following the fed's regular policy meeting there is nothing more important to the economy right now than people getting vaccinated and continued by saying that is really the main thing about the economy is getting the pandemic under control getting everyone vaccinated getting people wearing masks and all that that's the single most important economic growth policy that we can have powell's comments came on the same day biden's coven 19 response team held its first public briefing with senior adviser andy slavitt emphasizing that they cannot reach the goal of vaccinating all americans unless congress asks to pass biden's 1.9 trillion dollar relief package the package includes 160 billion dollars for a national vaccination program expanded testing more public health jobs and other steps to curb the pandemic that has claimed more than 425 000 american lives and upended the economy slavic said that the administration can reach its initial goal of getting 100 million people vaccinated within a hundred days without congressional action that's just the start in order to get all americans vaccinated we need congress to provide funds slavic said including for expanding production and establishing more vaccination sites congress has already devoted tens of billions of dollars to vaccine production and distribution but as the pace of vaccination lags behind what the trump administration had promised and new variants of that coronavirus emerge demands for vaccinations is far outpacing what americans are demanding powell and other fed leaders have long emphasized that the economy will not fully heal until the pandemic is under control but wednesday marked the first time central bankers in a statement released after their policy meeting specified congress on vaccinations as core to the recovery we haven't won this yet powell said we clearly can but we're going to have to stay focused the need for more money for vaccinations could prove a compelling argument in favor of passing biden's relief package and a pressure point to try to win republican support despite some discussion of breaking off vaccines and stimulus checks as a standalone bill biden said earlier this week he did not want to do that overall biden's relief package has gotten a frosty reception from many republicans on capitol hill including senate minority leader mitch mcconnell republican from kentucky who dismissed it as an overly expensive and untargeted wish list of liberal priorities in addition to vaccine funding the package includes an extension of unemployment benefits that would otherwise expire in mid-march a new round of one thousand four hundred dollar stimulus checks and increased child tax credit an increase in the federal minimum wage to fifteen dollars an hour more than a hundred thirty billion dollars for schools and more but the need for spending on vaccines has emerged as an area of bipartisan consensus in meetings biden's administration officials have held with bipartisan groups of lawmakers in the senate and the house because of the widespread gop opposition to the overall package democratic leaders in both chambers are making plans to try to advance the legislation under special rules that could allow it to pass with a simple majority vote in the senate meaning no republican support would be required democrats say however that they still hold hope for gop support for the bill and bipartisan discussions are continuing overall powell said economic activity and unemployment had moderated in recent months that pain has been concentrated in service sectors restaurants bars hotels that have borne the brunt of the pandemic december marked the first month of job losses since the recovery began in may for months powell has urged lawmakers to keep up the direct relief to struggling households and businesses warning against the risk of withdrawing support too soon that's especially the case powell said for service sector workers including many women and people of color whose jobs may only return once the health crisis ends still powell routinely stops short of outlining what should or should not go into another relief bill leaving those discussions to the white house in congress his overarching message is just to keep the aid flowing fiscal policy has been absolutely essential and when we look back we'll see a strong and sustained fiscal policy response bell said wednesday as i mentioned we're a long way from a full recovery powell told reporters that he himself had received his first vaccine shot and was awaiting the second well that's pretty much all the updates we have for you today guys please don't forget to subscribe to the channel turn on post notifications so you don't miss out on any new stimulus package and unemployment benefit updates also please make sure to like the video let us know what you think about this whole situation in the comments section below thank you so much for watching have an amazing rest of your day