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Poorer U.S. households gained nearly a year’s spending from CARES Act – study

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By Jonnelle Marte (Reuters) – Federal aid distributed as part of the CARES Act boosted U.S. households’ ability to pay their bills after becoming unemployed, with lower-income households seeing the biggest gains, according to research from the Federal Reserve Bank of San Francisco released on Monday. The median household would have been able to maintain spending for an additional 15 weeks after losing employment income with help from enhanced unemployment benefits and the direct cash payments delivered as part of the relief bill, passed in March 2020 to support the economy through the COVID-19…

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