The Senate is preparing to vote on a large economic stimulus measure, and the Federal Reserve is anticipating short-term inflationary pressure in the near future. At-home hospital care has seen an increase in startup activity, and smaller companies often feel compelled to follow suit when larger businesses in the community raise wages.
National
Following a delay caused by Senator Ron Johnson’s request that the entirety of the American Rescue Plan’s text be read aloud, the Senate is set to begin voting on amendments to the $1.9 trillion package before likely scheduling a final vote over the weekend and returning the legislation to the House. Some of the changes in the bill include a revision of minimum payments to better support smaller states.
Federal Reserve Chairman Jerome Powell says inflation is likely to pick up in the short-term as COVID-19 vaccines are distributed and economic activity improves. However, he said the inflationary pressure is likely to be temporary and that the Fed does not expect to modify its interest rates in response.
Business trends
Startups specializing in at-home hospital care have been growing as a result of the pandemic, which has often made people warier of seeking hospital care. Companies providing technology and other services in this field have been attracting the interest of venture capitalists and health insurers.
A new study suggests that low-wage workers see an increase in their salaries when large employers such as Amazon in their communities increase wages. Researchers suggest the trend puts more pressure on smaller employers to offer higher compensation rather than risk losing employees to the larger company.
