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US President Joe Biden was speaking at a virtual summit organised by US Department of Education. (Photo Credit: AFP File)

  • The $81 billion were taken out of the recently approved American Rescue Plan
  • The fund will be used for buying PPE kits and ensuring health safety in schools
  • Safe re-opening of schools were one of the top priorities of the Biden administration

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Federal Reserve Chairman Jerome Powell made the statements on Wednesday (Photo Credit: AFP)

  • A 2% boost for the economy was implied by the Federal Reserve
  • The new numbers reflect the impact of Biden's stimulus package
  • Powell promised Fed's support for economic recovery of the US

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Joe Biden signed the COVID stimulus bill earlier in the week.(Photo Credit: Twitter/@JoeBiden)

  • Processing of the first batch of stimulus payments began on Friday, Treasury department official said
  • The payments, in tune of $1,400 per person, were included in the $1.9 trillion COVID-19 relief package
  • The White House had said on Thursday that payments would go out as soon as this weekend

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The legislation includes stimulus funds for households and extension of unemployment benefits. (Photo Credits: Representational Image/Unsplash)

  • US President Joe Biden signed the eagerly-anticipated economic relief package earlier
  • The legislation has sparked 'fear of missing out' on equity gains among investors
  • Economists fear a big jump in inflation

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US President Joe Biden has pushed for early approval for his $1.9 trillion COVID-19 relief bill on multiple instances. (Photo Credit: AFP)

  • The bill was earlier scheduled for the Presidential approval on Friday
  • The bill arrived at the White House on Wednesday night
  • While signing the bill, Biden was accompained by Vice President Kamala Harris 

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US President Joe Biden has been advocating for the relief bill since his term began in January 2021 (Photo credit: AFP)

After getting the final legislative approval in the US House of Representatives on Wednesday, US President Joe Biden followed up by signing the bill on Thursday.

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US President Joe Biden and Vice President Kamala Harris have been lobbying for the stimulus package since the start of their term (Photo Credit: AP / PTI)

  • US President Joe Biden tweeted, "Help is here"
  • VP Kamala Harris wrote Biden "challenged every member of our Administration" to get the bill passed
  • Representative Cortez also explained the benefits of the bill on Twitter

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Jared Golden represents the second district of Maine in the House of Representatives (Photo Credit: Twitter/@RepGolden)

  • The democrat representative said he did not vote for the bill due to the amendments made in the Senate
  • Golden said he supports the efforts made by the upper house regarding stimulus cheques
  • The bill finally passed with a 220-211 voting outcome

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US President Joe Biden has pushed for early approval for his $1.9 trillion COVID-19 relief bill. (AFP Photo)

  • The final vote outcome was 220-211
  • Biden is expected to sign the bill on Friday
  • The US Senate sent the bill back to the House for final approval after various amendments 

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White House Press Secretary Jen Psaki made the announcements (Photo Credit :AFP)

  • The White House will prioritise the electronic payments as they are faster
  • Bureau of Fiscal Service will be responsible for overlooking the delivery of physical cheques
  • Cheques issued under the Trump administration had his signatures and note with the payments