WASHINGTON (Reuters) – Americans will see the first direct deposits from President Joe Biden’s $1.9 trillion COVID-19 relief package hit their bank accounts this weekend, Treasury and Internal Revenue Service officials said on Friday.
A first tranche of $1,400 stimulus payments was processed Friday, with additional large batches of payments to be sent via direct deposits or through the mail as checks or debit cards in coming weeks, the officials said.
That means a family of four earning up to $150,000 will receive $5,600. Unlike the first two payments, which were limited to children under 17, this round of checks will also go to all qualifying dependents, including college students, adults with disabilities, parents and grandparents, the officials said. Read more…..
Chart of the Day
Oct.31 — Bridgewater Associates Co-Chairman and Co-Chief Investment Officer Ray Dalio talks about what he looks for in an employee, how he’s preparing for a possible recession and whether or not he’d ever take a job in government. He appears on “The David Rubenstein Show: Peer-to-Peer Conversations.” The show was recorded on Sept. 5 in New York.