There are lots of stories around unemployment benefits and the good or bad aspects of the policy enacted through the CARES act, specifically an additional $600 in benefits per week. Why that dollar value in particular? There was an intent to make it more of a locally based number, but that quickly became an intractable problem that would delay, arguably needlessly, necessary aid. As a result the legislation used more of a national average number. The upside is it should help maintain some level of demand with more funds in the hand of people. The downside is that it might disincentivize a return to work, though this would be region and job specific and involves some short run versus long run issues.
This is a bigger issue being tackled nationally. Jamie Dimon of J.P. MorganRead More »